M1 Finance Hits $4.5B AUM, Announces $150M Series E Led By SoftBank Vision Fund 2

The Gist: M1 Finance, an automated money management platform, announced Wednesday a $150 million Series E funding round to boost innovation and platform growth.

What Happened: M1 Finance is a platform for digital investing, borrowing and banking.

As part of a vision to help self-directed investors build wealth for the long-term, M1 Finance is lowering the barriers to financial wellness with comprehensiveness and automation.

Through a $150 million Series E funding round backed by SoftBank’s Vision Fund 2, and existing investors, M1 Finance will boost its client experience through new products and features, platform innovation, enhanced customer service, and hiring.

“Each funding round is proof and motivation that people believe in our mission of empowering financial well-being,” said M1 Finance founder and CEO Brian Barnes. “Financial well-being isn’t a luxury, it’s a necessity. Our platform helps people have more control, more freedom, and more power over their money. We experienced massive growth in the past year, and it’s extremely gratifying to see investors and clients believe in our vision and make it a reality.”

See Also: The Psychology Behind M1 Finance's Platform And Its Focus On Financial Well-Being

Why It Matters: The development comes alongside M1’s commitment to growth.

Just this past year, the fintech raised about $300 million and launched tools for users to save, spend and borrow.

“M1 Finance simplifies the complex, time-consuming money management process for individuals,” said Munish Varma, Managing Partner at SoftBank Investment Advisers. “We believe the company is well-positioned to consolidate users’ financial lives on a one-stop super-app with its Invest, Spend and Borrow products. We look forward to partnering with Brian Barnes and his team to help them scale their business and launch more products.”