Allocations buys Lumen Advisory and Finance

Allocations has acquired Salt Lake City-based Lumen Advisory and Finance, a provider of accounting services.

Allocations has acquired Salt Lake City-based Lumen Advisory and Finance, a provider of accounting services. The deal is valued at $2.5 million.


MIAMI, Oct. 8, 2021 /PRNewswire/ — Allocations, the world’s fastest and most powerful private equity and venture capital platform, announced today the acquisition of Salt Lake City-based Lumen Advisory and Finance. The deal, valued at $2.5m in cash and stock, brings Lumen’s accounting automation acumen into Allocations’ expanding suite of accessible private equity capabilities.

Allocations is building private equity 2.0 – shifting the reins of control from big VC to angel investors. The company has built an end-to-end platform for private equity products (SPVs, funds and soon M&A, SPACs and family offices), disrupting the $2.9 trillion US private equity market, and has processed over $280m in deal volume since 2019.

Founded in 2012, Lumen represents a success for Utah’s burgeoning technology scene as a forward-looking, tech-first company that values communication, transparency, and simplicity in its approach to accounting and tax services. Its vision aligns neatly with that of Allocations, which is dedicated to demystifying and democratizing access to private equity. Lumen has been developing the “infinity engine,” a tech-enabled accounting and tax system built specifically for funds and SPVs of all sizes, which will continue to be deployed under Allocations’ aegis.

The two companies aligned on creating an engineering-focused approach to private equity deals, eliminating complexity, and increasing standardization and overall process speed.

“Our reason for being has been to decrease the time, cost, and barriers to entry that the private equity industry has hidden behind for its entire existence, and Lumen fits beautifully into that picture,” said Kingsley Advani, Founder and CEO of Allocations. “Lumen has the mindset, the experience, and the technology to be a natural addition to our suite of capabilities. Their growth-oriented focus on making things simple, standard, and automated are exactly what will accelerate access to the industry going forward.”

“We’re thrilled to be joining a company that’s so closely aligned with our vision and values,” said Nicholas Bird, CPA, Founder and President of Lumen Advisory & Finance. “Since we started Lumen in 2012, our mission has been to design our tech and processes to make accessibility, transparency, and scalability as key metrics for success. Allocations does exactly what we were doing on the finance and tax side, but with a wider purview of capabilities.”

Bird will join Allocations as Chief Financial Officer.

About Allocations
Allocations is a US-based fintech company that is building tools for economic freedom. Allocations enables investors to create private equity deals with a 1-click experience – starting with SPVs & Funds.

The company is disrupting the $2.9 trillion p.a. USA private equity & venture capital market, building tools for the long-tail of investors. Allocations believes everyone should have access to low-cost, simple and high speed private equity tools.

In 2019, Kingsley Advani founded Allocations, with a vision to create more economic freedom for every person. He built a world-class team to build an end-to-end private equity platform designed for simplicity, transparency and high speed – the fastest SPV on the platform was set up in less than 3 hours!

Today, Allocations has reached $250m+ in transaction volume with 600+ private funds on the platform in less than 2 years.