Aspiration Raises $15.5M in Series A Funding

AspirationAspiration, a Los Angeles, CA-based online investment platform, raised $15.5m in Series A funding.

The round was led by Renren (NYSE: RENN) with participation from other investors GSV Capital, Capricorn Investment Group, IGSB Mission and Market and angels David Bonderman, Gordon Crawford, Matthew Dowd, Rick Hess, Bill Lee, Joe Lonsdale, Alexis Maybank, Lenny Mendonca, Steven Rattner, Dan Rosensweig, Matthew Salzberg, Joseph Sanberg, and Frank Yeary.

Led by Andrei Cherny, CEO and co-founder, and Joseph N. Sanberg, co-founder and chair of the Board of Advisors, Aspiration creates and curates financial products and brings them directly to the consumer at thereby disintermediating traditional advisors and middle-men to establish a relationship with retail investors.
Launched in November 2014, Aspiration also offers a charitable aspect to financial services by donating 10% of its revenue to charities providing microloans and mentoring for low-income Americans to start businesses – and allowing customers to give to the causes of their choice as well.



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