Total amount raised
$250 Millions
Latest funding date
01/01/2021
Location
Aspiration has successfully raised funds through multiple venture rounds, with its latest funding round occurring on January 28, 2021. The company offers financial products designed to help consumers and enterprises achieve carbon neutrality.
With a diverse group of 46 investors, including Deep Field Asset Management and Ruttenberg Gordon Investments, Aspiration continues to innovate in the fintech and social impact sectors. Keep reading to explore the intricacies of Aspiration's fundraising journey and the investors backing this impactful platform.
What Is Aspiration?
Founded in 2013 by Andrei Cherny and Joseph N. Sanberg, Aspiration is a fintech company based in Marina Del Rey, California. The company operates in the banking, financial services, fintech, and social impact industries.
Aspiration employs between 51 and 100 people and offers retail banking and investing services aimed at helping customers protect the planet. Their products include debit and credit cards with embedded carbon reduction solutions and software for enterprises to monitor and reduce their carbon footprint.
How Much Funding Has Aspiration Raised?
- Seed Round
- Amount Raised: $2.5M
- Date: October 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Series A
- Amount Raised: $15.5M
- Date: September 2015
- Lead Investors: Moatable
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's product line and increase its market presence.
- Series B
- Amount Raised: $47M
- Date: December 2017
- Lead Investors: Social Impact Finance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological capabilities for carbon reduction solutions.
- Series C
- Amount Raised: $135M
- Date: May 2020
- Lead Investors: Alpha Edison
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expand the suite of eco-friendly financial products.
- Venture Round
- Amount Raised: $50M
- Date: January 2021
- Lead Investors: Deep Field Asset Management, Ruttenberg Gordon Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and market their carbon reduction solutions and expand their customer base.
Total Amount Raised: $250M. Current Valuation: Not publicly disclosed.
Key Investors
- Alpha Edison
- Details: Alpha Edison is a venture capital firm that focuses on early-stage investments in companies that are creating new markets or transforming existing ones. They are particularly interested in technology-driven companies that have the potential to disrupt traditional industries.
- Investment Focus Areas: Early-stage investments, technology-driven companies, market creation and transformation, disruptive innovations
- Notable Investments: Various technology startups, healthcare innovations, financial services disruptors
- UBS
- Details: UBS is a Swiss multinational investment bank and financial services company. It focuses on providing wealth management, asset management, and investment banking services.
- Investment Focus Areas: Wealth management, asset management, investment banking, financial technology, sustainable finance, impact investing
- Notable Investments: Fintech companies, sustainable finance projects, impact investing initiatives
- Social Impact Finance
- Details: Social Impact Finance is an investment firm focused on generating social impact through its investments. They aim to support companies that create positive social and environmental change.
- Investment Focus Areas: Social impact, environmental sustainability, community development
- Notable Investments: Not specified
- Deep Field Asset Management
- Details: Deep Field Asset Management is an investment firm that provides capital to innovative companies with high growth potential. They focus on sectors that are poised for significant transformation.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not specified
- AGO Partners
- Details: AGO Partners is an investment firm that focuses on strategic investments across various sectors. They aim to support companies with strong growth potential and innovative business models.
- Investment Focus Areas: Strategic investments, technology, healthcare, financial services
- Notable Investments: Not specified
What's Next for Aspiration?
As Aspiration looks to the future, the company is poised to capitalize on the growing consumer demand for sustainable and ethical financial products. With a recent $135 million Series C funding round, Aspiration has the financial backing to expand its eco-friendly services and introduce new products that align with its mission of conscious consumerism. The opportunity to attract a larger customer base is significant, given the increasing interest in climate-neutral financial solutions.
Future fundraising opportunities appear promising, as the successful Series C round indicates strong investor confidence. Aspiration may continue to attract investment to support its growth and innovation in green financial services. However, the company will need to navigate challenges such as competition from other fintech firms and maintaining customer trust while scaling its operations. By staying true to its values and leveraging its unique market positioning, Aspiration is well-positioned for continued success in the evolving financial landscape.
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