M1 Finance, a Chicago, IL-based finance app that offers automated investing, borrowing, and banking products, raised $45m in Series C funding.
The round was led by Left Lane Capital. As part of the deal, Left Lane Managing Partner Harley Miller will join Ahrens on M1’s board of directors. This latest funding, which brings the company’s total to just under $100m, comes 120 days after a $33m Series B – also led by Left Lane Capital- in June. Other existing M1 investors include Jump Capital and Clocktower Technology Ventures, among others.
The company will use the funds to continue to expand operations and its business reach.
Led by founder and CEO Brian Barnes, M1 combines investing, borrowing, and cash management capabilities into a free platform. It has more than $2 billion in clients’ assets and is used by more than 500,000 self-directed investors.