Fintech Startup Aspiration May Merge With Interprivate III SPAC - Start Up Gazzete
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Fintech Startup Aspiration May Merge With Interprivate III SPAC


Green Fintech startup Aspiration has reported that it is in talks to merge with a SPAC and aims to go public in the US markets. The valuation of the company in the context of this deal is estimated at more than $ 2 billion.

According to anonymous sources, Aspiration is in talks with InterPrivate III Financial Partners Inc., a special purpose acquisition company (SPAC) backed by Ahmed Fattouh.

The merger that would raise capital through a transaction with the so-called private investment in public capital, or PIPE agreement. Since the deal is not finalized, both Aspiration and Interprivate III declined to comment.

Aspiration is led by CEO Andrei Cherny and is based in Los Angeles. The company develops solutions to climate change through its financial service.

The company transforms a further change in customer transactions through savings and debit card purchases to support tree planting. Plus, the Los Angeles-based startup says it can offset the carbon dioxide from every gallon of gasoline purchased with one of its cards.


“Your bank is most likely using your money to finance oil projects that destroy the climate,” it says on its website, “Put your money where your values ​​are.”

Additionally, the company also launched a free network of more than 55,000 ATMs that can serve customers who sign up for direct deposit of their paycheck.

In May, their customer base was reported to have doubled. At the same time, the company stated that it had at least 4 million users.

PitchBook reported that the company was worth $ 1 billion in May 2020. Some of its investors include actors Leonardo DiCaprio, Robert Downey Jr. and Orlando Bloom, Allen & Co., eBay Inc. co-founder Jeff Skoll, as well as to David Bonderman. , co-founder of TPG.

In March, Interprivate III raised about $ 259 million. In the past, Interprivate Acquisition Corp. has also merged with the lidar company Aeva Technologies Inc.

Author avatar
Joshua Smith

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