Fortun Advance, part of Luminar Media Group, sees significant asset growth and positive financial metrics.

From GlobeNewswire: 2024-09-03 09:00:00

Luminar Media Group, Inc. reports substantial asset growth since entering the finance space, with Fortun Advance reaching $1,216,491 in total assets. Following a merger with Luminar Media Group, Fortun Advance saw a 21.65% ROI within its first few months, with $1,000,000 in capital contributions. Default collections only stand at 7.4% of receivables.

Key growth metrics for Fortun Advance include a 98.7% increase in accounts receivable from active funding clients, a 50.63% growth in new funding volume, and a 147% surge in receivables deposited from July to August. The company has a self-sustaining business model, covering operational costs through commissions and fees.

Fortun Advance has funded businesses in 25 industries, with 57% of funding going to construction, trucking, and transportation. With funds directed to businesses in 17 states, over 78% of funding has gone to Florida. The company welcomes Juan M. Sese as Vice President of Finance, bringing over 25 years of finance experience.

Juan M. Sese has a strong background in finance, having managed assets for affluent clients and major institutions. He holds an MBA in Business and Finance from the University of Miami and multiple prestigious financial licenses. Sese is optimistic about Fortun Advance’s financial outlook and continued growth potential throughout 2024 and 2025.

Luminar Media Group, Inc. is a Miami-based fintech company focused on providing financial solutions to underserved communities, particularly Latino and minority-owned enterprises. The company aims to empower businesses and drive economic growth. Investors are encouraged to review periodic reports filed with the SEC for more information on potential risks.



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