CHICAGO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- M1 Finance, the Finance Super App that offers automated investing, borrowing, and banking products, today announced a $45 million Series C funding round led by Left Lane Capital.
This latest round of funding, which brings the company’s total to just under $100 million, comes just 120 days after a $33 million Series B—also led by Left Lane Capital—in June. Other existing M1 investors include Jump Capital and Clocktower Technology Ventures, among others.
“The perfect finance account will manage all of a person’s finances and optimize them according to the individual’s unique wants and needs,” said founder and CEO Brian Barnes. “M1’s platform is furthest along in making this vision a reality and this fundraise lets us move faster towards that ideal.”
M1, which bundles powerful investing, borrowing, and cash management capabilities into one easy-to-use, free platform, has more than $2 billion in clients’ assets on the platform and is used by more than 500,000 self-directed investors.
M1 is not a robo-advisor—it does not give advice—and it’s definitely not a day trading platform. M1 is a personal money management platform built to empower people to make their choices and execute them with ease.
Before M1, people had to use a mix of brokers, apps, spreadsheets, and banks which increased costs and complexity of managing their money. M1 solves that problem by giving investors a single platform to build long-term wealth, meet medium-term financial needs, and manage short-term spending.
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,” Barnes continued. “Over the next twelve months, we will be doubling headcount as we invest heavily in product innovation and the overall M1 experience.”
“Our confidence in M1, its team, and its product, have only grown in our work together,” said Dan Ahrens, Partner at Left Lane Capital. “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.”
As part of the transaction, Left Lane Managing Partner Harley Miller will join Ahrens on M1’s board of directors.
To learn more about M1 Finance, please visit www.m1finance.com.
About Left Lane Capital
Left Lane Capital is a New York-based growth equity firm. We invest in high-growth consumer internet and technology companies that build lasting relationships with customers. Our mission is to partner with extraordinary entrepreneurs creating category-defining business that are fundamental to the human condition and spirit.
For more information, please visit www.leftlanecap.com
About M1 Finance
Award-winning M1 helps people manage and grow their money in easy, smart, automated ways – for free – on one integrated, secure platform. By combining investing, cash management, and portfolio lines of credit, M1 provides hundreds of thousands of people with choice and control over their money. M1 was named 2020 Best for Low Costs and 2020 Best for Sophisticated Investors by Investopedia.
For more information or to create an account, please visit www.m1finance.com.
Disclosures
All investing involves risk, including the risk of losing the money you invest, and past performance does not guarantee future performance. Borrowing on margin can add to these risks, and you should learn more before borrowing. Borrow rates subject to change. M1 does not provide investment advice, and this is not an offer or solicitation of an offer, or advice to buy or sell any security, and you are encouraged to consult your personal investment, legal, and tax advisors.
Brokerage products are: Not FDIC Insured • No Bank Guarantee • May Lose Value
M1 refers to M1 Holdings Inc., and its affiliates. M1 Holdings is a technology company offering a range of financial products and services through its wholly-owned, separate but affiliated operating subsidiaries, M1 Finance LLC and M1 Spend LLC. M1 Plus is an annual membership that confers benefits for products and services offered by M1 Finance LLC and M1 Spend LLC.
Brokerage products and services offered by M1 Finance LLC, an SEC registered broker-dealer and Member FINRA / SIPC.
M1 Spend checking accounts furnished by Lincoln Savings Bank, Member FDIC. M1 VisaTM Debit Card is issued by Lincoln Savings Bank, Member FDIC.
Media Contact: Jillian Smith, jillian@propllr.com