Innovative Financial Products and Operational Efficiency Driving Business Expansion
MIAMI, FL - January 15, 2025 (NEWMEDIAWIRE) - Luminar Media Group, Inc. (OTCMARKETS: LRGR), a fintech company specializing in alternative financing solutions for small businesses across the United States, is pleased to announce a strong finish to 2024. Since Luminar Media Group’s acquisition of FortunCo, LLC and Fortun Advance, LLC (collectively, “Fortun”) in late May 2024, Fortun has delivered outstanding financial results, reflecting its ability to penetrate the market and execute effectively.
2024 Performance Highlights
Key 2024 Year Highlights:
- Amount Funded: $3,064,800
- Number of Deals: 411
- Average Deal Size: $7,457
- End-of-Year Assets: $3,387,515* ($369,316 Cash on Hand + $3,018,199 A/R) *Subject to 15% Non-Current A/R
- States Funded: 27
- Total Revenue: $801,375
Q4 2024 Highlights:
- Amount Funded: $1,851,900
- Number of Deals: 222
- Average Deal Size: $8,342
- Total Revenue: $473,060
Q3 vs. Q4 Performance
Fortun achieved significant growth when comparing Q3 to Q4 2024:
- Amount Funded: Increased 62%, from $1,140,000 in Q3 to $1,850,000 million in Q4, driven by strong demand for Fortun’s financing solutions.
- Number of Deals: Grew 31%, from 169 in Q3 to 222 in Q4, reflecting successful customer acquisition efforts.
- Average Deal Size: Improved 24%, from $6,733 in Q3 to $8,342 in Q4, highlighting Fortun’s ability to capitalize on larger funding opportunities.
- Total Revenue: Rose 54%, from $307,211 in Q3 to $473,060 in Q4, supported by effective revenue strategies and increasing market traction.
- Assets: Grew 77% for the quarter, from $1,914,908* at the end of Q3 to $3,387,515* at the end of Q4.
Looking Ahead to 2025
Building on its 2024 momentum, Fortun is well-positioned for exponential growth in 2025. With strong market demand and deepened relationships with investors and partners, the company plans to strengthen its market position, significantly surpassing Q4 2024 performance.
In December 2024, the company entered into an advisory agreement with ThinkEquity, a leading investment banking firm. ThinkEquity provides strategic advisory services, capital raising solutions, and financial insights tailored to high-growth companies. Fortun expects that its work with ThinkEquity will support successful execution of its 2025 objectives.
Yoel Damas, Founder and President of Fortun, expressed his excitement about the future, “Six months post-merger, we’ve proven our business model’s resilience and are now set to highlight its scalability. We are strategically positioned to scale quickly and generate substantial shareholder value for our investors – 2025 is poised to be a transformative year for Fortun.”
Commitment to Latino and Minority-Owned Businesses
Fortun remains steadfast in its commitment to supporting Latino and minority-owned businesses, which represent some of the fastest-growing segments of the U.S. economy. With over 4.7 million Latino-owned businesses making significant contributions to economic growth, Fortun’s dedication to serving this market solidifies its position as a leader in providing financial solutions to underserved communities. This focus aligns with Fortun’s mission to drive inclusive growth and empower small businesses nationwide.
About Luminar Media Group
Luminar Media Group, Inc. (OTCMARKETS: LRGR) is a fintech company specializing in alternative financing solutions for small businesses across the United States. By offering innovative funding options, Luminar, through its subsidiaries FortunCo and Fortun Advance, empowers entrepreneurs to achieve their business goals while fostering economic growth in underserved communities.
Forward-Looking Statements
This release contains forward-looking statements that reflect Luminar Media Group's current strategies and expectations for future performance. Actual results may differ materially due to various risks and uncertainties. Investors are encouraged to review the company’s filings with the SEC for further information.
The financial data presented in this release is subject to review by independent accountants and may be adjusted before final reporting. Please note that the information provided is preliminary and should not be considered final until it has undergone a full review.
For more information, please contact:
Robert Rico
Investor Relations
Phone: 305-283-9237
Email: Robert@Fortunco.com
Follow us on X: @FortunCorp
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