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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
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