M1 Finance has closed a $45m Series C funding round in order to build a next-generation finance super app that offers automated investing, borrowing, and banking products
The funding round was led by Left Lane Capital, who was joined by existing M1 investors including Jump Capital and Clocktower Technology Ventures, among others.
The latest funding round brings the total amount raised by the company to date to a tad below $100m.
M1 is a finance super app that provides investing, borrowing, and cash management services on one platform.
The platform is used by over half a million self-directed investors and has more than $2bn in client assets.
M1 is a personal money management platform tailored to the needs of its users. It allows investors to build long-term wealth, meet financial goals, and manage spending.
Prior to M1, people had to use a mix of brokers, apps, spreadsheets, and banks to manage their money, which increased their costs.
M1 founder and CEO Brian Barnes said: “The perfect finance account will manage all of a person’s finances and optimise 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.”