Stockholm, June 5, 2023 – Lumera receives minority investment from AMF and Skandia. The investment from the two highly regarded Swedish financial institutions marks the first important step in Lumera’s preparation for an IPO. Monterro will remain majority investor, through its funds M2 and M4.
“We’re really proud of the growth that Lumera has accomplished since we started our journey together back in 2017,” says Peter Larsson, co-founder of Monterro and Chairman of the Board of Lumera. “The company has successfully expanded its business across Northern Europe with a business-critical solution for the Life and Pension industry. We’re now ready to take the next step and prepare for an IPO, and we are thrilled doing this together with AMF and Skandia. Their investment and commitment are true testaments to Lumera’s potential in the market.”
Lumera provides safe, continuous digital transformation for the Life and Pension industry, being one of the most complex and highly regulated industry in the world. The platform offers reduced operational costs, business agility, and freed up resources for its customers.
In the transaction, a minority of the shares are acquired by AMF and Skandia. Monterro also reinvests in Lumera through its fund M4, making Monterro a continued majority owner through its funds M2 and M4. This marks Monterro’s long-term commitment to Lumera’s journey ahead. Lumera’s founders and employees will remain significant shareholders.
Lumera is dedicated to the digital transformation of the Life and Pensions industry. As insurtech innovators, we are introducing AI-powered automation and business analytics to policy administration. The Prudent Revolution is our mission – bridging technology and partnership to navigate the fastest, safest path through complex change for L&P providers. With a faultless track record from extensive migration projects, Lumera combines our cloud-native policy administration platform with deep domain expertise.