Financial Technology Startup Closes $47 Million

Online financial firm Aspiration brought in $47 million in Series B financing, led by Social Impact Finance. Allen & Company, Omidyar Network, Capricorn Investment Group, Alpha Edison, AGO Partners, Reyl & Cie, and Rustic Canyon Partners also participated.

The company’s goal is to deliver financial products in a consumer-focused model that empowers people to choose their fee and aligns the interests of Aspiration and its customers. The company donates a dime of every dollar it earns to help Americans that work to climb the ladder of opportunity. It also makes it possible for its customers to choose to give a portion of their profits to a charitable cause of their choice.