Aspiration Valuation, Funding & Investors

Aspiration is valued at $2.3B as of December 2021.

Last Aspiration valuation

$2.3B

Undisclosed stage · Dec 2021

Last Aspiration funding round

$300M

Undisclosed stage · Dec 2021

Cumulative funding Aspiration raised

$550M

across 6 funding rounds

Key investors in Aspiration

  • AGO Partners
  • Alpha Edison
  • Oaktree Capital Management
  • Ruttenberg Gordon Investments
  • Moatable
  • FootPrint Coalition

Aspiration Overview

About Aspiration

Aspiration is a Los Angeles-headquartered fintech company offering carbon-neutral financial products to consumers and enterprises. It provides debit and credit cards that automatically offset purchase carbon footprints for over six million users, alongside software for enterprise carbon monitoring and access to carbon-reducing assets. The platform helps businesses integrate climate action into operations, making products carbon neutral through proprietary inventory and features.


Founded

2013

HQ

United StatesLos Angeles, CA

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Product sales

Valuation

$2.3B (Dec 2021)

Aspiration Valuation

Aspiration is currently valued at $2.3B, based on its undisclosed-stage round in December 2021.

The $300M round was led by Oaktree Capital Management, with participation from Steve Ballmer.

Aspiration valuation by funding round

Aspiration valuation by funding round
DateStageValuation
Dec 2021Undisclosed stage$2.3B

Aspiration Funding History

Aspiration has raised a total of $550M across 6 funding rounds.

Aspiration's first fundraising round was a $3M seed round in October 2013. The most recent completed round was a $300M undisclosed-stage round in December 2021.

Aspiration funding rounds

Aspiration funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2021Undisclosed stageOaktree Capital Management (lead); Steve Ballmer$300M$2.3BAspiration, a sustainability-focused financial services company offering ESG-driven banking and investment products, secured $315 million in incremental equity financing on December 15, 2021, from funds managed by Oaktree Capital Management and affiliates of Steve Ballmer ahead of its business combination with InterPrivate III Financial Holdings Corp., a SPAC. The financing comprised $250 million from non-convertible perpetual preferred stock with an 8% dividend redeemable after 9 years, $50 million in mandatorily convertible pre-merger securities purchased at a SPAC equivalent price of $11 per share, and $15 million in common stock PIPE at $11 per share, closing concurrently with the business combination expected in Q1 2022. This investment was positioned at a premium to the initial deSPAC valuation, reflecting recognition of Aspiration's accelerated growth that year, as stated by CEO Andrei Cherny. The capital joined a prior $200 million common stock PIPE from August 2021, bringing expected cumulative net proceeds over $700 million, assuming no redemptions from InterPrivate's $260 million trust account. The financing supported Aspiration's mission to capitalize on the historic shift to sustainability by providing services and financial solutions to public markets. The deal aimed to strengthen the roster of blue-chip backers for the SPAC merger.
Jan 2021Undisclosed stageAGO Partners (lead); Deep Field Asset Management (lead); Jovono; FootPrint Coalition; Ruttenberg Gordon Investments$50M-Aspiration is a sustainability-focused fintech company offering banking, spending, saving, and investment products that enable users to offset carbon footprints, such as planting trees with every credit card purchase and providing 1% cash back. The company, founded in 2013 by Andrei Cherny and Joseph N. Sanberg and headquartered in Marina del Rey, CA, has attracted celebrity investors including Leonardo DiCaprio, Orlando Bloom, and Robert Downey Jr.'s Footprint Coalition Ventures, along with firms like Alpha Edison, AGO, Capricorn Investment Group, Allen & Company, Flourish Ventures, Social Impact Finance, and Deep Field Asset Management. It has raised over $250 million in venture capital funding overall, serving more than 5 million members with ESG-driven financial services. In 2021, Aspiration pursued going public via a SPAC merger with InterPrivate III Financial Partners, implying a pro-forma equity value of $2.3 billion, with projected 2022 revenue of $254 million and 2023 revenue of $508 million, expected to yield over $400 million in cash proceeds. Aspiration later acquired Carbon Insights in 2022 to enhance its climate impact tools.
May 2020Series CAlpha Edison (lead)$135M-Aspiration, founded in 2013 by Andrei Cherny, is a neobank offering bank accounts, cash management, and investment services with a focus on socially and environmentally responsible assets. The company had 1.5 million registered users at the time of its Series C funding in May 2020 and emphasized its commitment to conscious consumerism through products like its Impact Measurement Score, which allows customers to track the social impact of their spending habits. The company also offers partnerships with socially conscious brands like TOMS and Warby Parker for cash-back rewards. Aspiration closed a $135 million Series C round on May 21, 2020, led by existing investor Alpha Edison and joined by UBS O'Connor, DNS Capital, Radicle Impact, Sutter Rock, Social Impact Finance, AGO Partners, and individual investors including Jeff Skoll and Joseph Sanberg. The round brought total funding to over $200 million, though the company declined to disclose its post-money valuation. The company noted record debit card transaction volumes in March and April 2020 during the COVID-19 pandemic, reflecting accelerating adoption of digital banking services that management attributed to broader market trends toward fintech solutions.
Dec 2017Series BSocial Impact Finance (lead)$47M-Aspiration, a California-based banking and investing platform, secured $47 million in a Series B funding round on December 13, 2017, led by Social Impact Finance, with participation from Allen & Company, Omidyar Network, Alpha Edison, AGO Partners, Reyl & Cie, Capricorn Investments, and angels including Orlando Bloom and Doc Rivers. This brought total funding to $67 million following a $15.5 million Series A in 2015 led by Renren. The company offers fee-free banking with up to 1% annual interest, opened with a $10 minimum, alongside investing and retirement products positioned as socially conscious. Aspiration reported adding thousands of customers weekly since 2015 and supporting more than $2 billion in transactions annually around the time of the round, highlighting rapid growth in its consumer base. Funds were earmarked to accelerate customer acquisition and launch new products, aligning with its mission-driven approach in ESG-focused fintech. The company later raised larger rounds, including $135 million Series C in 2020 and $258.75 million Series D in 2021 at $2.3 billion valuation via SPAC plans, but faced challenges post-2021. Aspiration pledged 10% of earnings to charities for microloans and mentoring low-income Americans as a Public Benefit Corporation.
Sep 2015Series AMoatable (lead)$16M-Aspiration closed a $15.5 million Series A funding round on September 17, 2015, led by Renren. The company is a next-generation financial services platform combining profitability with purpose, offering investment strategies democratized for everyday Americans using cutting-edge technology. Aspiration pioneered a pro-investor approach allowing customers to pay what they think the company deserves, including zero, and donates 10% of its revenue to charities supporting microloans and mentoring for low-income Americans to start businesses. Launched in November 2014, Aspiration achieved rapid growth by doubling its number of accounts every six weeks over the six months prior to the funding announcement. A significant 60% of its customers had not previously owned another retail investment product, and its user base spanned all 50 states plus U.S. Armed Forces overseas, with over 70% outside New York and California.
Oct 2013SeedAlvaro Boulet Alonso; Michael O'Mary; AGO Partners; Walid Gardezi; James Meeks$3M--

Who has invested in Aspiration?

14 investors have backed Aspiration across its funding rounds, including AGO Partners, Alpha Edison, Oaktree Capital Management, Ruttenberg Gordon Investments, Moatable and FootPrint Coalition.

Lead investors include Oaktree Capital Management, AGO Partners, Deep Field Asset Management, Alpha Edison, Social Impact Finance and 1 other investor.


Aspiration Investors

Investors in Aspiration by funding rounds participated
InvestorHQRoundsRoleFirst check
AGO PartnersUnited StatesLos Angeles, CA2LeadOct 2013
Social Impact FinanceGermanyMunich1LeadDec 2017
Deep Field Asset ManagementUnited StatesLos Angeles, CA1LeadJan 2021
JovonoUnited StatesLos Angeles, CA1ParticipantJan 2021
Alvaro Boulet AlonsoSpainMadrid1ParticipantOct 2013
Oaktree Capital ManagementUnited StatesUnited States1LeadDec 2021
Michael O'MaryUnited StatesNew York City, NY1ParticipantOct 2013
FootPrint CoalitionUnited StatesLos Angeles, CA1ParticipantJan 2021
Ruttenberg Gordon InvestmentsUnited StatesNew York City, NY1ParticipantJan 2021
Alpha EdisonUnited StatesLos Angeles, CA1LeadMay 2020
Steve BallmerUnited StatesSeattle, WA1ParticipantDec 2021
MoatableUnited StatesPhoenix, AZ1LeadSep 2015

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Acquisitions by Aspiration

Aspiration has acquired 1 company to date.

Last acquisition by Aspiration was on January 12th 2022. Aspiration acquired Carbon Insights for undisclosed valuation.


Latest Acquisitions by Aspiration

Carbon Insights
Description
Carbon Insights is a climate technology firm offering a platform that analyzes bank transactions and spending patterns to calculate personal and organizational carbon footprints. London-based, its proprietary algorithm applies emission factors from sources like the GHG Protocol to deliver real-time insights and recommendations for emission reductions. The service integrates directly with financial institutions to provide users with actionable data on travel, food, and shopping impacts.
HQ CountryUnited States
HQ City
Denver, CO
Deal Date12 Jan 2022
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Aspiration Competitors

Aspiration competitors include listed companies like Banco Inter and Kruk S.A., and private ones like BharatPe, Greenlight, Naver Financial Corp. and Uzum.

Public and private companies comparable to Aspiration
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BharatPeIndiaNew DelhiPrivate--$2.9B-
GreenlightUnited StatesAtlanta, GAPrivate$100M-$2.3B23.0x
Naver Financial Corp.South KoreaSeongnamPrivate--$2.3B-
Banco InterBrazilBrazilPublicly listed$1.6B-$2.4B1.2x
UzumUzbekistanTashkentPrivate$691M-$2.4B3.5x
Kruk S.A.PolandPolandPublicly listed$671M$320M$2B3.4x

Aspiration Public Comps

Aspiration is still privately-owned, but its public comps include Federal Agricultural, OSB Group, Banco Inter, Encore Capital Group, Kruk S.A., Paragon Banking Group, Hoist Finance, Sixth Street Specialty, Trinity Capital and Ellington Financial.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Federal Agricultural$408M-86.0x76.3x--
OSB Group$897M-1.8x1.7x--
Banco Inter$1.6B-1.5x1.2x--
Encore Capital Group$1.8B$645M3.5x3.3x9.5x8.5x
Kruk S.A.$671M$320M4.5x3.4x9.5x6.6x
Paragon Banking Group$710M-----
Hoist Finance$408M-7.0x5.3x--
Sixth Street Specialty$410M-8.6x8.7x-8.7x

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Common questions about Aspiration

When was Aspiration founded?Aspiration was founded in 2013.
Where is Aspiration headquartered?Aspiration is headquartered in Los Angeles, CA, United States.
Is Aspiration publicly listed?No, Aspiration is a private, VC-backed company.
What is Aspiration's valuation?Aspiration was last valued at $2.3B in its undisclosed-stage round in December 2021.
How much funding has Aspiration raised?Aspiration has raised $550M across 6 funding rounds.
What was Aspiration's last funding round?Aspiration's last funding round was a $300M undisclosed-stage round in December 2021, led by Oaktree Capital Management.
Who are Aspiration's investors?Aspiration's investors include AGO Partners, Social Impact Finance, Deep Field Asset Management, Jovono, Alvaro Boulet Alonso, Oaktree Capital Management, Michael O'Mary, FootPrint Coalition, Ruttenberg Gordon Investments, Alpha Edison and 4 others.
Which companies are comparable to Aspiration?Companies comparable to Aspiration include BharatPe, Greenlight, Naver Financial Corp., Banco Inter, Uzum and Kruk S.A..
How many companies has Aspiration acquired?Aspiration has acquired 1 company, including Carbon Insights.

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