The celebrity-backed digital bank Aspiration is scrambling to find funding.
in September has meant that money-burning companies with a murky path to profitability are finding it harder to secure funding. What may be unfolding is the first sign of a painful adjustment for unicorns or companies seeking that status.
"More than 1.5 million Americans have signed up with Aspiration to start making the move to spending and saving with a conscience," Cherny said in the statement. "During the past year, Aspiration has seen phenomenal growth in customers and revenue. Anyone saying otherwise doesn't know the facts." At the same time, concern over the company's funding spiked as irate vendors called Aspiration's customer service line or appeared in person at the firm's Marina Del Rey, California, headquarters to demand payment, according to former employees. Vendors even reached out to employees on LinkedIn, asking if Aspiration was still in business. The vendor complaints became so pervasive that most of the company's acquisition team quit, the ex-staffers said.
He was told by Aspiration that the company found some funding — a "partial round" — during the summer, because it paid half of what he was owed in August.
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