M1 Finance Clinches Unicorn Status with US$150 Million Fundraise
by Fintechnews Switzerland July 19, 2021M1 Finance, an all-in-one money management platform, announced that it has secured US$150 million during a Series E funding round, the firm is now valued at US$1.45 billion.
SoftBank’s Vision Fund 2 led the round, with participation from existing investors.
After raising a Series B through D in the past twelve months, M1’s total funding is now over US$300 million, and its total assets under management is reportedly over US$4.5 billion.
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.
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.
M1 had also launched Send Check, which allows M1 Plus clients to send physical checks from their M1 Spend Plus checking accounts.
Brian Barnes
“Each funding round is proof and motivation that people believe in our mission of empowering financial well-being. 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.”
said Brian Barnes, Founder and CEO of M1 Finance.
