Just a few years ago we started Aspiration with the goal of providing everyone with a financial firm that they can trust to do the right thing—for them and for the world. We knew it would be a challenge. After all, we’re up against Big Banks that have convinced Americans that paying high fees and getting near-zero interest rates on their deposits is actually a good thing. And, those same Big Banks have quietly lobbied against better consumer protections and funded billions in fossil fuel projects.
Despite the huge odds, we are succeeding—and that’s thanks to the increasing numbers of people who are realizing every week that there is a better option.
Today we’re excited to announce that Aspiration has raised a $47 million “Series B” funding round, the largest such round ever raised by an online banking company in America.
Aspiration will be using these funds to accelerate its growth in customers and new products as it builds the most pro-consumer, pro-conscience financial firm in the country.
The funding round, which brings Aspiration’s total funding to $67 million, was led by Social Impact Finance, along with new and existing investors including Allen and Company, Omidyar Network, Alpha Edison, AGO Partners, Reyl & Cie, and Capricorn Investments.
Individual investors include award-winning actor Orlando Bloom, Los Angeles Clippers coach “Doc” Rivers, former Citigroup Chief Operations and Technology Officer Deborah Hopkins, Bad Robot President Brian Weinstein, Rustic Canyon Partners founding partner Tom Unterman, and others.
Since Aspiration opened for business in 2015, Aspiration has become one of the fastest growing online banking and investing companies in America, adding thousands of new customers every week. Aspiration customers currently transact over $2 billion a year on the Aspiration platform and save over $100 million in bank fees. By investing sustainably with Aspiration instead of the S&P 500, Aspiration customers have reduced greenhouse gas emissions by the equivalent of three million fewer miles driven by American cars.
A big thanks to all our customers for getting us this far. There’s so much more to do, and we’re ready to do it.
Tell a few friends—the time has come for good to win out over greed.