Luminary Secures $22M Series A Funding to Expand AI Wealth Transfer Platform
Luminary, an artificial intelligence-native wealth transfer platform launched in 2022, has raised $22 million in a Series A funding round led by Ten Coves Capital. The investment brings the company's total funding to nearly $32 million and includes participation from BNY and 8VC, which previously led its seed round. Luminary aims to democratize access to wealth transfer planning services traditionally reserved for ultra-high-net-worth clients. The platform uses AI to convert static estate documents into structured data that supports advisory workflows across financial institutions such as trust companies, law firms, and accounting practices. CEO David Barnard emphasized the role of automation in addressing complex client needs around tax-efficient strategies and entity structuring. The new capital will be used to enhance AI capabilities, expand administrative functions, and grow sales teams. Luminary already supports over $500 billion in client assets across a range of financial services providers including Caprock and IEQ Capital.
Tickers: $BK
Topics: AI Fintech Investment Wealth Management