" class="no-js "lang="en-US"> Aspiration to Become Publicly Traded via Merger
Thursday, June 13, 2024

Aspiration to Become Publicly Traded via Merger

Aspiration Partners, Inc, a global leader in Sustainability as a Service solutions for consumers and companies, and InterPrivate III Financial Partners Inc. (NYSE: IPVF) (“InterPrivate III”), a publicly-traded special purpose acquisition company, announced today a definitive merger agreement that will result in Aspiration becoming a publicly listed company. Upon closing of the transaction, the company will be named Aspiration, Inc., and is expected to be listed on the New York Stock Exchange under the new ticker symbol “ASP.”

Aspiration offers an ecosystem of sustainable banking services, credit cards, and investment products that help customers keep their deposits out of fossil fuels, automatically plant trees with every card purchase, and track business and personal Planet & People impact scores so they can shop with a conscience. Aspiration’s technology and tools also provide bundled solutions that help businesses meet the demand for sustainability from their customers and employees by offsetting their carbon footprints and developing co-branded products and services that mitigate climate change. The Company’s corporate partners range from software publisher Intuit to NEU Community, which is launching a community of sustainable homes outside of Austin TX in partnership with Aspiration.

Over five million Americans have signed up as members, joining one of the largest communities of Conscious Consumers in the world. The company has a revenue run rate in excess of $100 million as of June 2021 and has driven over 7x growth in the past year.

Aspiration’s sustainable impact grows alongside its financial success. In the past year alone, Aspiration’s individual and business customers have funded the reforestation of over 35 million trees, planting on average more trees each day than there are in New York’s Central Park. The cumulative climate impact of the Aspiration community thus far is the equivalent of taking every car in the state of Connecticut off the road for a year.

“Most Americans want to do their part to fight the climate crisis but don’t know where to start and don’t know how to make a real difference – and this is where Aspiration comes in,” said Andrei Cherny, CEO and Co-Founder of Aspiration. “Aspiration is in the business of fighting the climate crisis. We help people and businesses build sustainable impact into what they do every day by making it easy, automated, and powerful, whether it is in the ways people spend and save their money or the ways businesses engage their customers. The switch to sustainability will likely be the largest, fastest shift in behavior in human history, and Aspiration has a central role to play in powering that transformation for individuals and businesses alike.”

Joe Sanberg, Co-Founder and Board Member, commented: “We’re in a “zero to one” moment as companies of all sizes are quickly realizing that addressing the demand for sustainability from their customers and workforce is essential to their financial success. Aspiration is fast becoming a critical part of the infrastructure of a Good Economy built on sustainability and conscience.”

“Through its merger with InterPrivate, Aspiration will become the first ESG-driven fintech, a unique platform enabling individuals and enterprises to integrate and automate impact into their every-day financial and commercial transactions. The millions of passionate Aspiration members are an asset unto themselves, and have helped create a brand synonymous with sustainability that we expect to see extend in many exciting directions,” said Ahmed Fattouh, Chairman and CEO of InterPrivate III. “With strong secular tailwinds, Aspiration is growing rapidly, and we look forward to helping Andrei, Joe and the team execute on their strategic plans,” added Nicholaos Krenteras, President of InterPrivate III.

Mr. Cherny will remain the CEO of the combined company while Mr. Sanberg will continue to serve on the Board

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