Aspiration, a socially responsible neobank based in the U.S., has successfully secured $135 million in a Series C funding round, as consumers increasingly seek climate-neutral financial products.
Since launching in 2015, Aspiration has rapidly emerged as one of the fastest-growing online financial institutions in America, boasting over 1.5 million customers and facilitating transactions exceeding $4 billion through its accounts.
The company offers a variety of fossil fuel-free deposits and investments, alongside nationwide fee-free ATM access, cashback rewards, and premium debit cards crafted from ocean-recycled plastic. Aspiration also provides unique features such as an Impact Measurement score for customer spending, the opportunity to plant a tree with every purchase, and options for automatically carbon-offsetting gas expenses through its Aspiration Plus and Planet Protection programs.
Aspiration’s remarkable growth has been propelled by its innovative “Pay What Is Fair” business model, which empowers customers to determine their own fees, even allowing for a zero fee option. To date, the company has raised a total of $200 million in funding, with the Series C round led by Alpha Edison and participation from UBS, the Swiss investment bank.