M1 Finance secures $150m in SoftBank-led funding round
Chicago-based fintech M1 Finance has raised $150 million in a Series E funding round led by SoftBank’s Vision Fund 2.
M1 Finance claims the investment now takes its total valuation to $1.45 billion. The round also included participation from existing investors.
The company’s finance app offers automated investing, borrowing, and banking products aimed at “long-term money management” and currently boasts over $4.5 billion in assets under management.
The funding follows a $75 million Series D round in March this year, with the firm also completing its Series B and C rounds in the last 12 months, taking its total funding to over $300 million.
The company says the investment will fund new products and features, platform improvements, and additional hiring.
Japanese VC SoftBank has been busy over the last few months with a number of high-profile investments.
The firm poured $250 million into banking tech start-up Zeta in May before leading a $639 million funding round for buy now, pay later firm Klarna and a $250 million round for Mexican fintech Clip in June.
SoftBank’s Vision Fund 2 also led a $215 million Series C funding round for investment platform Clearco in the last week.