M1 Finance Announces $150M Funding Round Led by SoftBank Vision Fund 2
The Finance Super App climbs to a $1.45B valuation to continue its mission to build the best platform for long-term money management
CHICAGO, July 14, 2021 (GLOBE NEWSWIRE) — M1 Finance, the fast-growing Finance Super App offering automated investing, borrowing, and banking products, today announced a $150 million Series E funding round.
SoftBank’s Vision Fund 2 led the round, with participation from existing investors.
M1 Finance has seen record growth, capturing the attention of influential investors who believe in its mission and potential. After raising a Series B, C, and D in just the past twelve months, M1’s total funding is now over $300 million, and its total assets under management is over $4.5 billion.
In addition to its rapid growth, M1 is driving industry-leading innovation through its latest product releases. Last December, M1 launched Smart Transfers, allowing M1 Plus clients to automate financial goals based on pre-set rules. In February of this year, it released Custodial Accounts, giving M1 Plus parents or guardians the ability to invest in portfolios for younger generations. In June, M1 launched Send Check, which allows M1 Plus clients to send physical checks from their M1 Spend Plus checking accounts.
“Each funding round is proof and motivation that people believe in our mission of empowering financial well-being,” said M1 Finance founder and CEO Brian Barnes. “Financial well-being isn’t a luxury, it’s a necessity. Our platform helps people have more control, more freedom, and more power over their money. 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.”
The new capital will allow M1 to focus on delivering an optimal client experience through new products and features, platform innovation, enhanced customer service, and hiring top talent to realize its mission.
“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. We look forward to partnering with Brian Barnes and his team to help them scale their business and launch more products.”
To learn more about M1 Finance, visit www.m1finance.com.
About M1 Finance
M1 Finance, The Finance Super App, helps people manage and grow their money with control and automation – for free. With over $4.5 billion in assets under management, M1 empowers hundreds of thousands of self-directed investors to open accounts and improve their financial well-being through investing, digital checking, and portfolio lines of credit. M1 was named 2021 Best for Low Costs and 2021 Best for Sophisticated Investors by Investopedia.
Learn more at www.m1finance.com.
Disclaimer
*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 (“SVF 2”) in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.
Investing involves risk, including the risk of loss. M1 Plus is an annual $125 membership offering products and services from M1 Finance LLC and M1 Spend LLC, separate, affiliated, and wholly-owned subsidiaries of M1 Holdings Inc. Brokerage products and services offered by M1 Finance LLC, member FINRA/SIPC.
M1 Spend Plus checking accounts furnished by Lincoln Savings Bank, Member FDIC.
Media Contact
Jillian Smith
330-794-3008
