US-based fintech startup Aspiration has raked in $135m Series C funding round to help more Americans have access to environment-friendly financial products and services.
The funding round was led by Alpha Edison and was joined by UBS, DNS Capital, Radicle Impact, Sutter Rock, Jeff Skoll, Joseph Sanberg, Social Impact Finance, Pohlad Companies, and AGO Partners.
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The latest funding round brings the total funding raised by the company to date to more than $200m.
The startup said that it will use the funds to grow its financial management and banking services, which are currently used by more than 1.5 million customers.
The company has recorded $4bn in transactions pass through its accounts.
Aspiration CEO Andrei Cherny said: “Aspiration is really built around bringing to everyday people great financial products that do well for them not only in terms of helping them make more money but also make a difference in the world.
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By GlobalData“We think that this funding round will allow us to build out America’s preeminent socially conscious financial home for millions of people.”
Founded in 2013, the Los Angeles-headquartered firm offers a fee-free bank account with 1% annual interest, a $10 minimum deposit, and an investment fund with a $100 minimum.
One of its products and features include ‘Plant Your Change’, which rounds up debit card purchases to the nearest dollar and uses the change to plant trees.
The socially-conscious company also offers a premium subscription tier that issues debit cards made from recycled ocean plastic.
