M1 Finance raises $45mn Series C funding to build next-gen Finance Super App
By Pavithra R
Chicago based M1 Finance, the Finance Super App that offers automated investing, borrowing, and banking products has announced that the company has raised $45 million in Series C funding round, led by Left Lane Capital.
The new finance brought the company’s total funding to date to just under $100 million. Early this June, the FinTech raised $33 mn in Series B funding round also led by Left Lane Capital. As part of the transaction, Left Lane Managing Partner Harley Miller will join Ahrens on M1’s board of directors.
“The perfect finance account will manage all of a person’s finances and optimize them according to the individual’s unique wants and needs. M1’s platform is furthest along in making this vision a reality and this fundraise lets us move faster towards that ideal,” said founder and CEO Brian Barnes.
M1 is a personal money management platform found to empower people to make their choices and execute them with ease. It has bundles powerful investing, borrowing, and cash management capabilities into a single easy to use, free platform. The firm touts to have more than $2B in clients’ assets on the platform and more than 500,000 self-directed investors.
Traditionally people had to use a mix of brokers, spreadsheets, apps, and banks, which increased costs & complexity of managing their money. M1 Finance solves that problem by giving investors a single platform to build long-term wealth, manage short-term spending and meet medium-term financial needs.
“We are fortunate to have such a supportive partner in Left Lane Capital, who has led two financing rounds in just this year alone, as we continue to build the next great financial institution. Over the next twelve months, we will be doubling headcount as we invest heavily in product innovation and the overall M1 experience,” added Brian Barnes.
“Our confidence in M1, its team, and its product, have only grown in our work together. The product’s combination of automation and client empowerment is unique in the market today. The M1 team pioneered no-fee investing and fractional shares, and we’re confident they’ll continue to be at the forefront of personal finance,” said Dan Ahrens, Partner at Left Lane Capital.
Founded in 2015, M1 is a FinTech company determined to reinvent personal finance. The company is a member of FINRA/SIPC m1.finance/legal.
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