Aspiration Announces Increase of Companywide Minimum Wage to $25 Effective in 2021

Aspiration is living up to its commitment as a leader in ESG services by supporting its employees by paying a living wage across the board

LOS ANGELES--(BUSINESS WIRE)--Aspiration, the world's leader in “Sustainability as a Service” products for consumers and companies, announced today that it was raising its companywide minimum wage to $25.

“At Aspiration, our tools and products help our customers spend and invest their money with companies that do great by their people and the planet,” said Andrei Cherny, Aspiration’s CEO and Co-Founder. “We want to make sure we’re leading by example when it comes to being a responsible and sustainable business and that’s why we’re committing to pay a true living wage.”

The decision to increase the minimum wage has been in development for months and reflects research from the Economic Policy Institute and others that has shown that the minimum wage would be over $20 if it had kept pace with productivity increases among American workers. Today’s announcement builds on Aspiration’s track record in being recognized as among the top 10% of its fellow certified B Corp in terms of its employee and environmental practices.

“Today’s announcement is part of the Aspiration ethos: a belief that in today’s world, doing well and doing good are inextricably linked,” Cherny said. “We want to find, hire, and retain the very best people who will embody our Mission/Driven culture so that we can best serve our customers.”

For more information on Aspiration, please visit www.aspiration.com.

About Aspiration Partners, Inc.:

Aspiration is the leading platform to help people spend, save, shop, and invest to both "Do Well" and "Do Good." Aspiration has earned the trust of its more than 4 million members by putting automated sustainable impact into their hands and integrating it into their daily lives. 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, UBS O'Connor Capital Solutions, Sutter Rock, Allen & Company, the Omidyar Network, Social Impact Finance, Joseph Sanberg, Alex Pomeroy, Glenn "Doc" Rivers, Orlando Bloom, and Leonardo DiCaprio. For more information, visit Aspiration.com.

* The Aspiration Spend & Save Account is a cash management account offered by Aspiration Financial, LLC, a broker-dealer registered with the SEC and Member FINRA/SIPC. Cash balances in the Aspiration Spend & Save cash management account are eligible for FDIC insurance by being swept to FDIC member institutions. Aspiration Financial, LLC provides brokerage services and securities products. Its affiliate company, Aspiration Fund Adviser, LLC, an SEC registered investment adviser, provides investment advisory services. Aspiration Fund Adviser, LLC and Aspiration Financial, LLC are subsidiaries of Aspiration Partners, Inc. (Aspiration). Neither Aspiration Partners, Inc. nor any of its subsidiaries is a bank. Aspiration pledges to donate 10% of our profits to charities. For more information related to our product features please visit aspiration.com/get-account.