SEB’s venture capital unit invests in Lumera, a leading player in the Swedish market for insurance administration software. The bank thus broadens its current partnership with the company.
SEB’s Life & Pension company signed an agreement with Lumera in September 2024 to deliver a new policy administration platform. The purpose is to future-proof the business.
“This is an important step in our modernisation journey aiming to meet the demands of our customers and distributors,” says Linnéa Ecorcheville, Head of SEB’s Life division.
Ecorcheville says the ambition is to increase SEB’s competitiveness and give customers the best possible offering and customer experience.
SEB Venture Capital’s investment gives the bank a minority stake in Lumera, making it one of three financial institutional owners. Monterro, a software investor, will remain the majority owner of Lumera after the transaction.
Fredrik Ljungblad, Investment Manager, SEB Venture Capital:
“Through the investment, we will support Lumera’s European growth ambitions, its preparations for an IPO and the modernisation journey that lies ahead for SEB Life & Pension”.