Banking

M1 Finance secures $150m in SoftBank-led funding spherical

Chicago-based fintech M1 Finance has raised $150 million in a Sequence E funding spherical led by SoftBank’s Imaginative and prescient Fund 2.

The funding follows a $75 million Sequence D spherical in March

M1 Finance claims the funding now takes its whole valuation to $1.45 billion. The spherical additionally included participation from present buyers.

The corporate’s finance app presents automated investing, borrowing, and banking merchandise geared toward “long-term cash administration” and presently boasts over $4.5 billion in property below administration.

The funding follows a $75 million Sequence D spherical in March this 12 months, with the agency additionally finishing its Sequence B and C rounds within the final 12 months, taking its whole funding to over $300 million.

The corporate says the funding will fund new merchandise and options, platform enhancements, and extra hiring.

Japanese VC SoftBank has been busy over the previous couple of months with various high-profile investments.

The agency poured $250 million into banking tech start-up Zeta in Might earlier than main a $639 million funding spherical for purchase now, pay later agency Klarna and a $250 million spherical for Mexican fintech Clip in June.

SoftBank’s Imaginative and prescient Fund 2 additionally led a $215 million Sequence C funding spherical for funding platform Clearco within the final week.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

Related Articles

Back to top button

Adblock Detected

Please turn off the Adblocker