Monterro reinvests in Lumera to support its next phase of growth
Monterro remains the majority owner of Northern Europe’s leading Life and Pensions software provider, extending its commitment and providing fresh capital for continued expansion.
Monterro has reinvested in Lumera through its latest fund, M5. Together, M4 and M5 have acquired all shares previously held by M2. Monterro therefore remains the company’s majority owner, extending its ownership horizon.
Lumera provides core software to the Life and Pensions industry in Northern Europe. More than 250 clients, including eight of Sweden’s ten largest insurers, trust its platform to manage over 20 million policies. Its software supports the entire policy lifecycle and is central to clients’ operations, with contracts often spanning ten years or more. The platform is highly automated, driving substantial cost efficiencies for clients, while the standardised shared code base ensures all clients remain fully compliant with evolving regulations and benefit from continuous feature enhancements.
Since Monterro first invested in 2017, Lumera has grown from around 100 to almost 600 employees, with revenue now exceeding SEK 1.2 billion. During this time, the company has expanded from Sweden into Norway, the Netherlands and the UK.
The shift from defined benefit to defined contribution pensions across Europe is driving demand for modern software as insurers replace legacy systems. Pension reform in the Netherlands is further accelerating this transition. With its industry expertise and established platform, Lumera is well positioned to meet this demand.
“Over the past nine years, we have worked closely with Lumera’s team to build a leading Life and Pensions software business. We see significant opportunities ahead as insurers modernise their core systems. Reinvesting through M5 gives us a longer horizon and fresh capital to support Lumera’s next phase of growth,” says Thomas Bill Revland, co-founder of Monterro and Chairman of the Board at Lumera.
Lumera’s next phase will focus on using AI to accelerate client migrations and product development, while adding functionality that delivers more value to existing clients. The company will also strengthen its position in the UK and the Netherlands and expand into new markets, partly through acquisitions.
“I am thrilled that Monterro has chosen to reinvest in Lumera. It is excellent news for our clients, employees and shareholders as we enter an exciting new chapter in our journey to become the leading global technology provider to the Life and Pensions industry,” says Jonas Alfredson, CEO of Lumera.
About Lumera
Lumera is an insurtech company driving digital transformation across the global Life and Pensions industry. We provide technology solutions for pensions administration, data management and migration to a broad base of prominent clients. In addition, we have a wide range of expert services that combine our technology and industry expertise, tailored to each local market and supported by prudent AI to enhance automation and data quality.
Our mission – the Prudent Revolution – is about combining technology with partnerships to offer Life and Pensions companies the fastest and safest journey through complex change.
Lumera is headquartered in Stockholm, with additional offices in the UK, the Netherlands, Norway, Sweden and Vietnam.
The principal owner of Lumera is Monterro, a leading software investor in Europe.
Thomas Bill Revland, co-founder of Monterro and Chairman of the Board at Lumera
thomas.bill.revland@monterro.com
About Monterro
Monterro is Europe's leading hands-on software growth investor. Our mission is to turn Nordic B2B software companies into market leaders – by contributing our time, experience, know-how, and networks. And yes, we provide capital too. We are previous founders, entrepreneurs, and executives of software companies who now support our portfolio companies in all aspects of growth, including AI-enabled transformation across product, engineering, and operations. And by investing our own capital, we are personally committed to our mutual success. Monterro is headquartered in Stockholm with offices in Oslo, Copenhagen, Helsinki, London, and our own software development centre in Hanoi. Learn more at https://monterro.com.