illionGreenFi launches , introducing a new brand for climate-friendly banking and investing for consumers. This launch marks the next milestone in restructuring the former Aspiration consumer finance business following last year’s asset buyout. Tim Newell, Founder and CEO of GreenFi, also announced the funding of a $17 million seed investment round in the company.
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GreenFi emerged from the 2024 acquisition of Aspiration’s consumer fintech brand by Mission Financial Partners (MFP), led by Newell, the former head of the consumer fintech division at Aspiration and former leader of Tesla’s financial products team. This spin-out established GreenFi as a new independent company dedicated to providing climate-friendly financial solutions. The $17 million investment will accelerate GreenFi’s development of new banking, credit, and investment products that deliver both strong financial value and sustainability.
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“We’re proud to launch GreenFi, a brand that demonstrates you can prioritize both your financial well-being and the planet,” said Newell. “GreenFi offers our customers an easy way to align their financial goals with their values, knowing their money is supporting a healthier environment.
The transition to GreenFi will be seamless for existing customers. Accounts will automatically transfer from Aspiration to GreenFi with no disruption. Checking, savings, and investment accounts will remain intact, and all deposits will continue to be free from fossil fuel funding. Customers will continue to make a positive environmental impact with every transaction.
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“All of us have the power to make a real difference right now, despite what we see happening in the world, by simply choosing where to bank,” added Newell. “Every dollar spent, invested, or saved with GreenFi is a choice that helps build a sustainable future. Last year alone, our customers funded the planting of more than 4.3 million trees – that’s a tree every 7.3 seconds, or enough trees to reforest more than two and a half football fields a day.”
In the coming months, GreenFi plans to introduce enhanced financial products, including higher-yield savings accounts, climate-friendly credit cards, additional impact investments, and green loans.
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Source – PR Newswire
