Automated Investing App Company M1 Finance Raises $45 Million

By Dan Anderson ● October 18, 2020
  • Finance Super App M1 Finance — a company that offers automated investing, borrowing, and banking products — announced it has raised $45 million in Series C funding

Finance Super App M1 Finance — a company that offers automated investing, borrowing, and banking products — announced it has raised $45 million in Series C funding led by Left Lane Capital. This round of funding — which brings the company’s total to just under $100 million comes only 120 days after a $33 million Series B round of funding also led by Left Lane Capital — in June. And other existing M1 investors include Jump Capital, Clocktower Technology Ventures, and several others.

M1 bundles powerful investing, borrowing, and cash management capabilities into one easy-to-use and free platform. And it has over $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 and it does not give advice. And it is not a day trading platform. M1 is essentially 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. And 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.

In connection with the funding, Left Lane Managing Partner Harley Miller will join Ahrens on M1’s board of directors.

KEY QUOTES:

“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.”

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.”

— M1 Finance founder and CEO 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.”

— Dan Ahrens, Partner at Left Lane Capital