Aspiration, a Marina Del Rey-based fintech and retail banking startup founded by Andrei Cherny, announced today that it had closed a $47 million Series B investment. This latest round brings the company's total amount of funding to-date to $67.5 million — surpassing any previous series B rounds raised by an online banking company in the U.S.
The company, which offers a suite of sustainable banking, investing and retirement products while also helping users improve their financial wellness and making a positive impact on the world, plans to use the funding to expand, accelerate growth and offer new products.
"We had our fair share of doubters when we first started Aspiration, but we've shown that profit and purpose can go hand-in-hand,” said Cherny, who serves as CEO of Aspiration, in a press release. “Aspiration is growing fast because we have found innovative ways to put both our customers’ interests and their values first. I'm so excited about our ability to do so for many more people, in many more ways in the months and years ahead.”
The round was led by led by Social Impact Finance and included participants from new and existing partners, including Allen and Company, Omidyar Network, Alpha Edison, AGO Partners, Reyl & Cie and Capricorn Investments. Individual investors include actor Orlando Bloom, Los Angeles Clippers coach “Doc” Rivers, former Citigroup Chief Operations and Technology Officer Deborah Hopkins, Bad Robot President Brian Weinstein and Rustic Canyon Partners founding partner Tom Unterman, among others.