FinTech: M1 Finance Raises $150M In Its Fourth Funding Round In A Year

July 14, 2021 | FinTech, News, Venture Capital

The Finance Super App notched up a valuation of $1.45 billion.

M1 Finance, which helps its users to invest, borrow, and spend on one Super App platform, announced today its raise of $150 million in a Series E round led by SoftBank Vision Fund 2. Existing investors also participated in the funding. (Yahoo Finance)

M1 Finance: Solid growth, fast funding

Chicago-based M1 Finance captured unicorn status with the round valuing it at $1.45 billion. In a testament to the fintech’s sharp growth trajectory, this latest round was the fourth over the last 12 months. It took the total amount raised by M1 to over $300 million.

“We experienced massive growth in the past year, and it’s extremely gratifying to see investors and clients believe in our vision and make it a reality,” said M1 Finance founder and CEO Brian Barnes.

M1 will use the money to develop new products, for platform innovation, hiring top-notch talent, and enhancing its customer service.

M1 now has over $4.5 billion in assets under management. It has more than doubled its user base and tripled its AUM since July 1, 2020.

“M1 Finance simplifies the complex, time-consuming money management process for individuals,” said Munish Varma, Managing Partner at SoftBank Investment Advisers. “We believe the company is well-positioned to consolidate users’ financial lives on a one-stop super-app with its Invest, Spend and Borrow products.”

Related Story:  Robo-Advisor App M1 Finance Charts Torrid Growth      

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
FinTech: UK-Based BNPL Player Zilch Closes Series B With Additional $110M
July 23, 2021     FinTech, News

The $110 million comprised both debt and equity capital. Zilch, the UK-based BNPL platform has raised an additional $110 million from Goldman Sachs and DMG Ventures. The funding is part…
Alternative Investments/Hedge Funds: Inflation Fears Boost Hedge Funds’ AUM To Nearly $4T
July 23, 2021     Alternative Investments, Hedge Funds, News

A market survey by alternatives technology provider Vidrio Financial shows that fears of inflation have helped move substantial fund allocations during the first half of 2021 to alternative assets such…
Alternative Investments/Digital: Global X Throws Its Hat In The Bitcoin ETF Ring

Global X, the New York-based ETF provider and subsidiary of $560 billion investment manager Mirae Asset, has filed with the SEC for permission to launch a bitcoin ETF titled the…
Digital Assets: Crypto Adoption Stories From JPMorgan, Gallup Poll, Bitcoin Depot, And UBS
July 23, 2021     Digital Assets, News

Four news bites that show cryptos are hanging on, recent crashes notwithstanding. From bitcoin ATMs to crypto FOMO, here goes….