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M1 Finance: Raises $150M in Series E; Valued at $1.45 Billion | Fintech InShorts: Latest fintech news, analysis by experts

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

By Steve Sam

July 17, 2021

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