Luminar Media Group Drives Expansion with ThinkEquity Advisory Agreement
Deal News | Dec 16, 2024 | EIN
Luminar Media Group, Inc. along with its subsidiaries FortunCo LLC and Fortun Advance LLC, collectively known as Fortun, has entered into an advisory agreement with ThinkEquity, a boutique investment bank. This strategic partnership aims to scale Fortun's operations in 2025 by expanding its working capital advance business and broadening its financial product portfolio. Led by CEO Yoel Damas, Fortun focuses on providing innovative financial solutions tailored to Latino and other minority-owned small businesses in the U.S. Luminar Media merged with Fortun in May 2024, positioning itself to capitalize on the growing financial-services market for Latinos, projected to grow substantially. ThinkEquity, known for financing over $50 billion in various financial transactions, will support Fortun's growth efforts.
Sectors
- Financial Services
- Investment Banking
- FinTech
Geography
- United States – The focus is on Latino and minority-owned small businesses within the U.S., and both Luminar Media Group and Fortun are headquartered there.
Industry
- Financial Services – The article revolves around FinTech services focusing on financial solutions and working capital advances, particularly targeting the Latino community.
- Investment Banking – ThinkEquity's role as a financial advisor falls under investment banking services, contributing to capital raises, advising on mergers and acquisitions.
- FinTech – Luminar Media Group and its subsidiary Fortun are involved in providing technology-driven financial solutions, characteristic of the FinTech sector.
Financials
- $2.5 million – The amount of completed client fundings since the merger with Luminar in May 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Luminar Media Group, Inc. | Parent Company | Company | A FinTech company aiming to provide financial services to underserved communities. |
| FortunCo LLC | Operating Company | Company | A subsidiary of Luminar focusing on working capital advances. |
| Fortun Advance LLC | Operating Company | Company | Another subsidiary of Luminar involved in financial services. |
| ThinkEquity | Financial Advisor | Company | A boutique investment bank providing strategic advisory services. |
| Yoel Damas | CEO | Person | CEO of Fortun, focused on providing financial solutions for Latino businesses. |
| Robert Rico | Contact Person | Person | Representative from FortunCo mentioned for media inquiries. |