Fintech Lumiant banks $5.26 million in Seed round

- March 27, 2023 2 MIN READ
Lumiant CEO Santiago Burrige
Financial advice fintech Lumiant has raised $5 million in a second self-described “Seed” round.

The funding came from two growing independent advisory firms, Australia’s Invest Blue and US firm Savant Wealth Management. 

Lumiant is a cloud-based advice platform designed to improve financial advisers’ and clients’ advice outcomes. The funding is earmarked for US expansion and mobile app development, while the engineering and mobile development have been bolstered to bring the app to Android and iOS, while Phil Pilgrim has signed on as head of corporate, responsible for continuing to drive growth in Australia and New Zealand. 

The fintech previously set out to raise $2 million via crowdfunding in 2021 to extend its initial $1.17 million seed round. 

The advice startup saw its clients’ numbers grow by around 44% in 2022.

Company founder and Global CEO Santiago Burrige said that Lumiant is committed to helping individuals and families live their best lives. 

“By meeting clients where they are—on their mobile devices—we can enhance their ability to track progress toward their goals. We’re thrilled to have backers who understand the wide-reaching appeal of our advice engagement technology and its ability to transform the advisor-client relationship,” he said. 

Lumiant’s cloud-based solution helps financial advisors provide measurable and scalable advice, and its modules help advisors visualise the impact and value of advice. 

The platform uses a process called stochastic modelling to transform non-numerical information into measurable and trackable outcomes. This helps clients understand whether they are on track to achieving their goals and living their best lives.

Over 60 advisory firms use Lumiant’s enhanced advice experience to deepen their relationships with clients and prospects.

Savant Wealth’s founder Brent Brodeski said that as an early client and strategic partner of Lumiant, they’d been afforded first-hand insight into its advisory benefits. 

“As such, we’re pleased to double down on our investment and help bring this next-gen experience to mobile. We’re confident that our clients will benefit from the ability to monitor progress toward their life and financial goals in real-time and on the go.”