M1 Finance closes $45m Series C round

M1 Finance has raised $45 million in a Series C funding round for its app, which offers automated investing, borrowing and banking products.

The round, which comes just months after a $33 million Series B, was led by Left Lane Capital and joined by Jump Capital and Clocktower Technology Ventures.

M1 Invest is a free investing product that enables users to create fully customisable stock and ETF portfolios using fractional shares; M1 Borrow provides a portfolio line of credit; and M1 Spend is a FDIC-insured digital checking account and debit card.

The firm has more than $2 billion in clients’ assets on the platform and is used by more than 500,000 self-directed investors.