M1 Finance Raises Series E, Boosting Valuation to $1.45 Billion

Chicago-based fintech platform becomes unicorn with latest funding round

Washington, DC – July 15, 2021 – Cooley advised M1 Finance on its $150 million Series E financing, which brings the Chicago-based personal finance platform’s valuation to $1.45 billion. Derek Colla and Sam Lipson led the Cooley team advising M1, which offers automated investing, borrowing and banking products.

SoftBank Vision Fund 2 led the round, which included participation from existing investors. M1 has seen record growth, capturing the attention of influential investors who believe in its mission and potential. Having raised a Series B, C and D in just the past 12 months, the company’s total funding is now more than $300 million, while its total assets under management are more than $4.5 billion. The new capital will allow M1 to focus on delivering an optimal client experience through new products and features, platform innovation, enhanced customer service and hiring top talent to realize its mission.

“Each funding round is proof and motivation that people believe in our mission of empowering financial well-being,” M1 founder and CEO Brian Barnes said in a news release. “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.”

M1 helps people manage and grow their money with control and automation, empowering hundreds of thousands of self-directed investors to open accounts and improve their financial well-being through investing, digital checking and portfolio lines of credit. 

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Related Contacts
Derek Colla Partner Washington, DC
Samuel Lipson Associate Washington, DC
Angel Nwachukwu Associate Washington, DC
Jeffrey J. Tolin Partner New York
Kenneth Juster Partner Boston
Megan Browdie Partner Washington, DC
Dillon Martinson Special Counsel Washington, DC
Rebecca Ross Special Counsel Washington, DC
Karen Tsai Special Counsel Washington, DC