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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : Investment app M1 Finance raises $150 million in round led by SoftBank Vision Fund 2

07/14/2021 | 10:03am EDT

(Reuters) - SoftBank Vision Fund 2 led a $150 million late-stage funding round in banking and investment app M1 Finance, lifting its valuation to $1.45 billion, the Chicago-based company said on Wednesday.

Founded in 2015, M1 manages over $4.5 billion in assets and pitches itself as an all-in-one money management platform that allows customers to invest, borrow and spend in one place.

Consumer-facing investment apps like M1 have seen an uptick in demand since last year as scores of stuck-at-home customers took to investing. Online brokerage Robinhood Markets Inc, which has filed for a U.S. stock market listing, revealed a frenetic pace of growth in 2020.

M1 has "experienced massive growth in the past year," Founder and Chief Executive Officer Brian Barnes said in a statement, and it plans to use the fresh capital to fund new products and features, hire more employees and improve customer service.

The latest round took M1's total funding above $300 million and saw participation from existing investors as well. The company raised capital through three consecutive rounds over the past year.

M1 counts technology-focused investment firm Coatue and Left Lane Capital among its investors.

(Reporting by Sohini Podder and Niket Nishant in Bengaluru and Jane Lanhee Lee in San Francisco; Editing by Devika Syamnath)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ROBINHOOD MARKETS, INC. 0.22% 45.136 Delayed Quote.0.00%
SOFTBANK GROUP CORP. 2.76% 6627 End-of-day quote.-17.76%
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Financials
Sales 2022 6 040 B 54 447 M 54 447 M
Net income 2022 1 310 B 11 807 M 11 807 M
Net Debt 2022 14 983 B 135 B 135 B
P/E ratio 2022 9,10x
Yield 2022 0,66%
Capitalization 11 348 B 102 B 102 B
EV / Sales 2022 4,36x
EV / Sales 2023 4,13x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 627,00 JPY
Average target price 10 325,87 JPY
Spread / Average Target 55,8%
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Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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