M1 Finance closes its Series C just months after its former round

Automated investing, borrowing and banking platform M1 Finance has finalised its Series C investment round on $45m.

Left Lane Capital led the round, with previous M1 backers Jump Capital, Clocktower Technology Ventures and others, also joining the round.

M1 provides consumers with a single, free platform that combines investing, borrowing and cash management capabilities. Its services are used by over 500,000 self-directed investors and supports over $2bn in clients’ assets.

The company does not claim to be a robo-advisor as it does not supply advice and it is not a day trading platform. It claims to be a personal management platform that is designed to help individuals make choices and execute on them.

M1 founder and CEO Brian Barnes said, “The perfect finance account will manage all of a person’s finances and optimize them according to the individual’s unique wants and needs.

“M1’s platform is furthest along in making this vision a reality and this fundraise lets us move faster towards that ideal.”

In line with the investment, Left Lane managing partner Harley Miller and partner Dan Ahrens will join the M1 board of directors.

The investment comes hot off the heels of its Series B which closed on $33m in June. M1 has raised a total of $100m in funding since it was launched.

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