M1 Finance: Raises $150M in Series E; Valued at $1.45 Billion

M1 Finance: Raises $150M in Series E; Valued at $1.45 Billion

• M1 Finance, a Chicago, IL-based finance app offering automated investing, borrowing, and banking products, raised $150m in Series E funding round
• SoftBank’s Vision Fund 2 led the round, which valued the company at $1.45 Billion, with participation from existing investors
• The company intends to use the funds to expand products and features, platform innovation, enhanced customer service, and hire talent
• The company is a finance app, which helps people manage and grow their money with control and automation
• Last December, the company launched Smart Transfers, allowing M1 Plus clients to automate financial goals based on pre-set rules
• In June, M1 launched Send Check, which allows M1 Plus clients to send physical checks from their M1 Spend Plus checking accounts