The former head of fintech at Tesla has successfully secured $17 million in investment for his rebranded, climate-friendly consumer banking and investing initiative.
The GreenFi brand has arisen from the 2024 acquisition of Aspiration’s consumer fintech brand by Mission Financial Partners (MFP), led by ex-Tesla executive Tim Newell. This spin-out establishes GreenFi as an independent company committed to offering climate-friendly banking, credit, and investment products.
Customers of Aspiration will be automatically transitioned to GreenFi, with assurances that checking, savings, and investment accounts will remain intact. All deposits will continue to be free from fossil fuel funding.
In the coming months, the company plans to introduce higher-yield savings accounts, climate-friendly credit cards, additional impact investment options, and green loans.
Tim Newell stated, “We’re proud to launch GreenFi, a brand that demonstrates you can prioritize both your financial well-being and the planet. GreenFi offers our customers an easy way to align their financial goals with their values, knowing their money is supporting a healthier environment.”