SME lender Lumi completes $15 million capital raise

SME lender Lumi completes $15 million capital raise

SME lender Lumi has successfully completed a $15 million capital raise with the aim of accelerating the company’s growth. As part of the capital raise, Harel Insurance and Finance Group (Harel) has joined as the latest investor, marking Harel’s first Australian investment.

Other existing Lumi investors, including Josh Liberman Investment Group, Arbel, Perennial, and Stellan Capital, also participated in the capital raise along with Harel. According to Lumi, this capital infusion will be strategic for the company’s growth and expansion.

Founded by Yanir Yakutiel (pictured) in 2018, Lumi provides Australian SMEs with business loans and lines of credit ranging from $5,000 to $500,000 on flexible terms. The company is known for its quick loan application process, with successful applications fulfilled within two hours, and maximum loan terms of 48 months.

Lumi utilises its proprietary technology to offer SMEs faster and simpler ways to access working and growth capital.

The capital raise will enable Lumi to continue expanding its balance sheet and product offerings to better support Australian SMEs. Lumi remains committed to the broker distribution model, and the volume of business originated through brokers is expected to grow. The increased capital will also allow Lumi to offer a broader range of products to brokers, enabling them to serve their clients more comprehensively.

Overall, the capital raise and Harel’s investment positions Lumi to further expand its services and continue supporting small- to medium-sized enterprises across Australia.