Aspiration, the financial services company that recently partnered with the Israel Philharmonic to fight back against rising temperatures globally, is choosing the hottest new method to go public. And it’s all backed by Jewish values.
In a recent release, Aspiration announced its plans to go public through a merger with Interprivate III Financial Partners Inc., aspecial purpose acquisition company (SPAC). SPACs have come into recent prominence, with companies such as SoFi Technologies and Lucid Motors opting to take their business public via the increasingly popular method.
According to the terms of the transaction, the company is set to become publicly traded on the NASDAQ by the end of this year—a crucial next step for a company that needs buy-in on a world stage to see its vision of a better, greener Earth realized.
Aspiration’s cofounders, Andrei Cherny and Joe Sanberg, are not only environmentally conscientious entrepreneurs, they’re also Jewish-American leaders who are outspoken in how their Jewish values inform their socially conscious pursuits.
“Aspiration is a company inspired by the Jewish values that Andrei and I hold dear. It allows individuals to reconfigure your financial life so that you can automate Tzedekah into your daily routine,” said Sanberg.
Like its Jewish cofounders, the green-thinking financial institution observes a more literal interpretation of tikkun olam, seeking to democratize world-repairing by equipping consumers with the tools needed to deploy their money for good. That means no money deposited into an Aspiration account is ever invested in harmful fossil fuel projects, and spending can be rounded up to support tree-planting initiatives that increase carbon levels and combat deforestation.
The Jewish lens with which Cherny and Sanberg view the world couldn’t be more apparent than in Aspiration’s choice to partner with Israeli institutions like the Israel Philharmonic. In April, the financial services company announced in April that it would be partnering with the Israel Philharmonic to bring the world-renowned Orchestra to full carbon neutrality by 2022—a seemingly perfect fit for two organizations who have shifted their focus to ensuring a better future for the coming generations.
Through Aspiration’s partnership with the Israel Philharmonic, the environment-first company has promised to donate instruments to the Orchestra’s youth music education programs for every person who creates an account through their partner link. Additionally, Aspiration will plant a tree for every click-through to their site from the AFIPO/Aspiration partner page.
In a statement from American Friends of the Israel Philharmonic (AFIPO), Executive Vice President & CEO Danielle Ames Spivak noted, “Our world isn’t the same place it was 10, 20, or even 1 year ago. Art and culture institutions must now shift their focus globally to prioritize the future they are creating and the Earth we leave behind. That’s why we are excited and proud of our partner, Aspiration, for taking this next step to revolutionize the financial industry and change our world for the better.”
Cherny, who is also Aspiration’s CEO, spoke to Ames Spivak about how his heritage and upbringing influenced his career—and life—path on an episode of AFIPO’s Schmoozic!, a web series that examines humanitarianism through the lens of classical music.
“We are so thrilled to have [AFIPO] as our partners… I say that personally as a person whose family came from communist Czechoslovakia and came and lived in freedom in a Kibbutz before they moved to the United States,” said Cherny.
“This is our heritage. Our religious heritage, our cultural heritage, our environmental heritage. It’s up to each of us to pass that on and be stewards of change.”
The soon-to-be public company also recently made headlines from initiatives with Israeli actress Noa Tishby, which will offset the carbon footprint of her recent book “Israel: A Simple Guide to the Most Misunderstood Country on Earth,” and megastar Drake, who announced that the financial services company would soon make his entire life—both at home and as a touring musician—carbon neutral
