Aspiration, a Los Angeles, CA-based sustainable financial company, raised a $47m Series B funding.
The round, which brings Aspiration’s total funding to $67m, was led by Social Impact Finance, with participation from Allen and Company, Omidyar Network, Alpha Edison, AGO Partners, Reyl & Cie, and Capricorn Investments and individual investors Orlando Bloom, “Doc” Rivers, Deborah Hopkins, Brian Weinstein, Tom Unterman, and others.
The company intends to use the funds to accelerate growth and expand its product offerings.
Led by Andrei Cherny, CEO, and co-founder Joseph Sanberg, Aspiration offers banking, investing and retirement products for people to improve their own financial situations. It allows its customers to pay what they think is fair, donate 10 cents of every dollar earned to charity, help its customers bank, spend, and invest sustainably.
The company, a certified B Corp., launched a new Aspiration Impact Measurement (AIM) feature of its mobile banking app that allows customers to see their own personal Sustainability Scores and choose where they spend based on businesses’ impact on people and the planet.