Betting consumers are tired of bad bank behavior, Aspiration raises $47 million for its alternative

A who’s who of celebrities, investors and celebrity investors have come together to invest $47 million into Aspiration, the company launched by a former speechwriter for President Bill Clinton to challenge the traditional banking industry...The core product for Aspiration is its Summit personal banking account. The checking account provides 1 percent interest and is fossil fuel free. 

So far Aspiration has onboarded accounts with over $350MM in savings and $2BN per year transacted across the platform. As various fintech products begin to compete with each other, core brand proposition and alignment with consumers becomes increasingly important.