IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

M1 Finance raises $33M in Series B funding round

Left Lane Capital leads Series B funding round with Jump Capital and Clocktower Technology Ventures

M1 Finance announced it’s raised $33 million in a Series B funding round. It will use the funds to accelerate its growth. The funding round was led by Left Lane Capital with Jump Capital and Clocktower Technology Ventures also participating in the round alongside M1’s existing investors.

This funding round marks another milestone in what’s already been a strong year for M1. In February, the company became one of the few fintech startups to reach $1 billion in customer assets. M1 has also added more than $650 million in customer deposits in 2020. Having raised $21.5 million in funding prior to this Series B funding round, M1 was able to reach the $1 billion AUM threshold faster than many other fintech companies.

“Our clients are intelligent, self-directed investors building long-term, sustainable wealth. We want that to be as easy and automated as possible, while still letting our clients maintain the control they desire,” said M1 founder and CEO Brian Barnes. “With M1, you can build an entire wealth strategy in only a few clicks, down to individual stocks and ETFs. We take it from there, handling all the day-to-day optimization, rebalancing, and re-investing according to your instructions so you can spend more time building strategies and less time executing them.”

“We’ve built the premier personal finance platform that combines the best of digital investing, borrowing, and banking, and have done so on relatively little funding,” Barnes added in a statement

Prior to the launch of M1, self-directed investors had to use a mix of brokers, money management apps and banks to manage their personal finances. With M1, investors can use the platform to build their wealth, meet their financial needs and manage short-term spending. 

“Consumers are highly selective when choosing an investing platform,” Dan Ahrens, Partner at Left Lane Capital, shared. “The fact that M1 has reached this scale organically, relying mostly on word-of-mouth to grow rather than paid marketing, shows the strength of M1’s product and client relationships.”

Founded in 2015 by Brian Barnes, M1 has now raised a total of $54.5 million in funding.

Featured Resources

The Total Economic Impact™ Of Turbonomic Application Resource Management for IBM Cloud® Paks

Business benefits and cost savings enabled by IBM Turbonomic Application Resource Management

Free Download

The Total Economic Impact™ of IBM Watson Assistant

Cost savings and business benefits enabled by Watson Assistant

Free Download

The field guide to application modernisation

Moving forward with your enterprise application portfolio

Free Download

AI for customer service

Discover the industry-leading AI platform that customers and employees want to use

Free Download

Recommended

Operationalising anti-fraud on the mainframe
Whitepaper

Operationalising anti-fraud on the mainframe

5 Apr 2022
Revolutionising the lending process with IBM Cloud Paks
Whitepaper

Revolutionising the lending process with IBM Cloud Paks

1 Apr 2022
Injecting simplicity, speed, and innovation in core insurance processes
Whitepaper

Injecting simplicity, speed, and innovation in core insurance processes

1 Apr 2022
The new normal: The future role of finance
Whitepaper

The new normal: The future role of finance

10 Mar 2022

Most Popular

Why convenience is the biggest threat to your security
Sponsored

Why convenience is the biggest threat to your security

8 Aug 2022
How to boot Windows 11 in Safe Mode
Microsoft Windows

How to boot Windows 11 in Safe Mode

29 Jul 2022
UK water supplier confirms hack by Cl0p ransomware gang
ransomware

UK water supplier confirms hack by Cl0p ransomware gang

16 Aug 2022