Fortun, a fintech division under Luminar Media Group, Inc., has celebrated its first anniversary with notable achievements in the small business financing sector. The company has successfully deployed $6.4 million in working capital, completed close to 1,000 funding transactions, and expanded its services to 38 states and Puerto Rico. This expansion underscores the growing need for alternative financing solutions among small businesses and entrepreneurs.
Among its key financial milestones, Fortun has reported $5.3 million in receivables, over $4.7 million in capital recovered, and total assets exceeding $5.6 million. The launch of Fortun Online, a digital platform designed to facilitate capital access, along with securing a strategic advisory partnership, marks significant strides in the company's mission to bridge capital gaps for small businesses.
Yoel Damas, President and CEO of Fortun, described the company's inaugural year as transformative, reinforcing their commitment to providing flexible, non-bank working capital solutions through subsidiaries like FortunCo, Fortun Advance, and Fortun Online. Juan Sese, VP of Finance, emphasized the importance of building momentum and fostering trust within the small business financing ecosystem, a testament to the company's rapid growth and the increasing market demand for such services.
The strategic positioning of Fortun in the fintech landscape suggests a continued trajectory of growth and innovation in small business capital access. The company's first-year performance not only demonstrates its potential to support entrepreneurial ventures across the United States but also highlights the critical role of alternative financing in empowering small businesses to thrive in today's competitive market.
