Aspiration, a financial-technology company that’s gained the backing of high-profile actors, is laying the groundwork for a public listing.
The Los Angeles-based firm may seek to go public through a traditional initial public offering or another route, according to a person familiar with the matter, asking not to be identified discussing the firm’s plans. The unicorn’s investors include actors Robert Downey Jr., Leonardo DiCaprio and Orlando Bloom, investment bank Allen & Co. and eBay co-founder Jeff Skoll.
Aspiration may go public as early as this year and is in talks with bankers, the person said. The plan is still in early stages.
A representative for Aspiration declined to comment on the firm’s plans.
The company, led by Andrei Cherny, is seeking to capitalize on a booming market for environmental, social and governance investing. The fintech promises that deposits “will never go towards funding fossil-fuel projects, firearms or political campaigns,” according to its
Aspiration has a savings account with an annual percentage yield of as much as 1%, and as much as $2.5 million per depositor is insured by the Federal Deposit Insurance Corp., according to the website.
Aspiration also is announcing on Monday that it’s enacting a $25-an-hour minimum wage effective immediately. That’s higher than the minimum at the largest U.S. banks, with Bank of America saying it would raise its lowest wages to
