Financial services tech firm M1 Finance raised $33 million to “accelerate growth” in a Series B fundraising round, according to an announcement. The round was led by New York-based growth equity firm Left Lane Capital. Other notable investors included Jump Capital and Clocktower Technology Ventures.
“With M1, you can build an entire wealth strategy in only a few clicks, down to individual stocks and ETFs,” said Brian Barnes, founder and CEO, in a statement. “Our clients are intelligent, self-directed investors building long-term, sustainable wealth. We want that to be as easy and automated as possible.”
Investors at Left Lane Capital were impressed by M1’s scale. “Consumers are highly selective when choosing an investing platform,” said Dan Ahrens, a partner at Left Lane Capital. “The fact that M1 has reached this scale organically, relying mostly on word-of-mouth to grow rather than paid marketing, shows the strength of M1’s product and client relationships.”
M1 reached the $1 billion AUM threshold earlier this year.