Demonstrates Union Square Advisors’ expertise in providing strategic capital markets advice to leading disruptive, high-growth financial technology companies
On August 23, 2021, Union Square Advisors announced it served as a capital markets advisor to Aspiration Partners, Inc. (“Aspiration” or the “Company”), a global leader in Sustainability as a Service solutions for consumers and companies, in a definitive merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF) (“InterPrivate III”), a publicly-traded special purpose acquisition company, that will result in Aspiration becoming a publicly listed company. It is anticipated that the post-closing company, Aspiration, will be listed on the NYSE with the ticker symbol “ASP”.
“Union Square Advisors was incredibly pleased to partner with Joe, Andrei and the Aspiration team in their journey as they navigated taking Aspiration to the next-level with this transaction,” said Mike Meyer, Partner and Head of Capital Markets at Union Square Advisors.
Added Carter McClelland, Union Square Advisors Chairman, “Importantly, our participation in this transaction further reflects our firm’s commitment to working with leading companies in the sustainability ecosystem.”
“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.
Read the full press release here.
About Aspiration Partners, Inc.
Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration has earned the trust of its more than 5 million members by helping them spend, save, shop, and invest to both “Do Well” and “Do Good.” Aspiration Partners, Inc. is a certified B Corp. Headquartered in Marina del Rey, CA, Aspiration Partners Inc. is backed by investors including Alpha Edison, AGO, Capricorn Investment Group, Allen & Company, Flourish Ventures, Social Impact Finance, Deep Field Asset Management, Joseph Sanberg, Alex Pomeroy, Glenn “Doc” Rivers, Orlando Bloom, Leonardo DiCaprio, Cindy Crawford, Kaia Gerber, and Robert Downey Jr.’s Footprint Coalition Ventures. For more information, visit Aspiration.com or Aspiration.com/business.
About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Ahmed Fattouh, Sunil Kappagoda, and Nicholaos Krenteras, is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue initial business combination targets in any industry, the Company expects to pursue targets in the financial services industry with a particular focus on tech-enabled companies, with a focus on target companies with an enterprise value of $1 billion or more. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including former BankOne Chairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; and Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman.
About InterPrivate Capital
InterPrivate Capital is a private investment firm that invests on behalf of a consortium of family offices. The firm’s unique independent co-sponsor structure provides its investors with the deep sector expertise and transaction execution capabilities of veteran deal-makers from the world’s leading private equity and venture capital firms. Affiliates of InterPrivate Capital act as sponsors, co-sponsors and advisors of special purpose acquisition companies (“SPACs”), and manage a number of investment vehicles on behalf of its family office co-investors that participate in private and public opportunities, including PIPE investments in support of the firm’s sponsored business combinations. For more information regarding InterPrivate Capital, please visit www.interprivate.com. For more information regarding InterPrivate’s SPAC strategy, please visit www.ipvspac.com.
About Union Square Advisors
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital, and family offices. Our expertise spans many aspects of the technology landscape, including Enterprise Software and Infrastructure, FinTech, Healthcare IT, Internet+Digital Media, eCommerce, Consumer Software and other key segments. Since inception, Union Square Advisors has advised on over 140 transactions, valued in excess of $110 billion. For more information, please visit http://www.usadvisors.com.