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Aspiration Introduces Tim Newell as Company’s First Chief Innovation Officer
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Aspiration has appointed Tim Newell as its first Chief Innovation Officer, focusing on developing next-generation sustainability services. Newell, formerly Deputy Director of the Office of Science and Technology Policy under the Clinton administration, aims to enhance Aspiration's sustainable financial offerings. With over 7 million consumer members, Aspiration continues to grow through partnerships with organizations like the LA Clippers and Deloitte. The company is also merging with InterPrivate III Financial Partners (NYSE: IPVF) to become a Public Benefit Corporation.
Positive
Appointment of Tim Newell as Chief Innovation Officer enhances company's leadership in sustainability.
Aspiration has over 7 million consumer members, indicating strong market demand.
Strategic partnerships with notable organizations like the LA Clippers and Deloitte.
Merger with InterPrivate III Financial Partners will enable access to greater resources as a Public Benefit Corporation.
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The Clinton administration tech leader will drive the development of the company’s next-generation sustainability services amid promising growth
LOS ANGELES--(BUSINESS WIRE)--
Aspiration, a global leader in Sustainability as a Service solutions for consumers and companies, today announced that technology and sustainability veteran Tim Newell has joined the company as its very first Chief Innovation Officer. In this new role, Newell – the former Deputy Director of the Office of Science and Technology Policy under the Clinton administration – will be focused on creating the next generation of Aspiration sustainable financial services and offerings and providing leadership across the company as it continues to see groundbreaking growth.
Tim Newell, Aspiration Chief Innovation Officer (Photo: Business Wire)
“Aspiration stands on the shoulders of the important work that leaders like Tim have been doing at the intersection of finance, technology, and sustainability for years,” said Andrei Cherny, CEO and co-founder of Aspiration. “Climate change is more central in our lives than ever before and with Tim’s unique experience across these sectors, he is well poised to guide us in delivering meaningful climate action solutions, from consumers to enterprises.”
Following his time at the White House, Newell joined the founding management team for venture capital fund DFJ Element, and later co-founded New Resource Bank, the first U.S. commercial bank dedicated to financing sustainable businesses. He also worked with the U.S. Renewables Group as a senior advisor and managing director before co-founding and becoming CEO of Common Assets, a fintech focused on providing financing for clean energy development. Most recently, Newell oversaw financial product design and development for companies such as SolarCity, Tesla, and Better.com.
“Over the past 40 years, the global climate conversation has evolved from nearly nonexistent to absolutely critical, making the development and deployment of powerful climate solutions more urgent than ever,” Newell said. “Companies like Aspiration, I believe, are among the next generation of financial infrastructure and services that will enable the massive shift in capital flows necessary to build a more sustainable economy and world.”
Aspiration gives consumers and businesses the sustainability tool to incorporate climate action into their daily lives and operations in ways that are automated, simple, and enormously powerful. Seven million consumer members have joined the movement so far, while noteworthy partnerships with organizations including the LA Clippers, Boston Red Sox, Deloitte, and Lime, among others, reflect an eagerness to adopt effective climate solutions.
Newell has held several board member positions throughout his career, including his current position on the Board of Directors for the Common Mission Project, a non-profit education organization, as well as the California Clean Energy Fund, Fulcrum BioEnergy, and FFP New Hydro. He holds a BA degree in Economics from Brown University.
Aspiration has entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly-traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation, building on Aspiration’s existing commitments to generate social and public good and operate in a responsible and sustainable manner.
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 7 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. For more information, visit Aspiration.com or Aspiration.com/business.
About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Chairman & CEO Ahmed Fattouh, President Nicholaos Krenteras, and Vice Chairman Sunil Kappagoda, is a blank check company whose business purpose is to affect a business combination with one or more businesses in the financial services or fintech sectors. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including: former BankOneChairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman; and fintech investor Gordy Holterman.
