US neobank Aspiration has scored $135m in its Series C round to help it provide its customers with more financial products and services.
The company has more than 1.5 million users who are spending, saving and investing their money while supporting the plant. Anytime an account holder completes a transaction with the Aspiraton debit card, they will be responsible for one tree being planted. Users can even compare their daily impact with their friends.
In addition to plant trees, when users spend money they can earn up to 10% cashback.
Investing through Aspiration will also mean a customer’s money will never be put into fossil fuel projects such as pipelines or oil drilling.
The efforts of Aspiration has already reduced CO2 to the equivalent of 500 million fewer miles being driven a year.
Customers of the neobank can also access nationwide fee-free ATM access, FDIC insurance on deposits and a competitive interest rate.
Last year saw Dutch challenger bank Bunq reveal it would plant a tree for every €100 spent by customers with its new Green Card. A poll conducted to the bank found its customers wanted to be able to help plant trees regardless of what card they used, as the Green Card had a €99 annual fee.
The bank took note of its customers and last month rolled out its SuperGreen initiative to let ay customer help plant a tree for every €100 the spend. The programme has already helped more than 100,000 trees be planted,
Copyright © 2020 FinTech Global
