Arnold Bloch Leibler has acted for international insurance company, Harel Insurance Investments & Financial Services, on its strategic investment into Australian small business lender, Lumi.
As reported in the AFR, Harel, Israel's largest insurance company, came in as part of a Series C funding round and contributed around two-thirds of the $15 million raised, with the remainder being supported by Josh Liberman Investment Group and the private investment arm of Perennial. The funding will be used by Lumi to grow the business and institutionalise its register.
Corporate and M&A partner Paul Rubenstein, senior associates Vidushee Deora and Cameron Sivwright, and law graduates Ramon Callis and Preeti Somasi advised on the transaction.
Paul Rubenstein congratulated Harel on the transaction, saying: "It was a pleasure working with the team at Harel on their strategic investment in Lumi’s future growth."