Chicago based digital investment platform raised $33m in Series B funding led by Left Lane Capital.
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M1 Finance raises $33m as it continues to grow
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M1 Finance has created a no-fee investing app that offers users an automated brokerage, portfolio lines of credit and digital banking. In February, the startup reached $1 billion in assets being managed on its platform. So far in 2020, M1 Finance has added more than $650 million in customer deposits. “We’ve seen a significant uptick in new accounts, in existing accounts adding more money, and the like,” Barnes said. “We’ve grown a ton throughout all this market turmoil.”
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