FinTech News
Aspiration Partners with Lime to Support Tree Planting with Every Ride
Those looking to zip around cities on an electric scooter will soon have a chance to make an even larger positive environmental impact thanks to a popular FinTech. Today, the neobank Aspiration announced a partnership with shared electric vehicle company Lime that will see the two companies working together to fight climate change. Now, those renting Lime vehicles will have the opportunity to fund the planting of a tree with each ride they take.
Meanwhile, as part of the partnership, Aspiration customers will also be able to access extended free trials of LimePrime. While those with Aspiration Spend & Save accounts are eligible for a three-month trial, those with the company’s recently-launched Aspiration Zero card can claim a 12-month free trial. With LimePrime, users can either fee-free unlocks or get 25% off on rides, as well as reserve any vehicle up to 30 minutes in advance for free. Typically, a monthly LimePime subscription comes at a cost of $5.99.
Billing itself as a “sustainability as a service” company, Aspiration is a FinTech that combines digital banking with environmental efforts. For example, using the platform, account holders can elect to round up their purchases to the nearest dollar, with the change going towards the planting of a tree as part of the company’s reforestation initiative. On top of that, the Aspiration Zero credit card attempts to help consumers reach carbon neutrality by planting one tree for every transaction made using the card. Those cardholders who reach carbon neutrality (by making at least 60 purchases per month or 30 per month with round-ups enabled) are rewarded with increased cashback rewards.
Similar to Aspiration’s Plant the Change program, Lime customers will now have to option to round up their rental price to the nearest dollar. This coupled with the use of the company’s electric vehicle fleet will allow riders to reduce their carbon footprint.
Commenting on the partnership and its potential impact, Aspiration’s Chief Business Development Officer Tate Mill said, “We’re thrilled to work with a mobility innovator like Lime, a company that shares Aspiration’s vision to bring its customers accessible and positive environmental impact that they can easily integrate into their daily lives. Aspiration and Lime are coming together to empower cardholders and riders to make meaningful sustainable impact on an everyday basis. Together, we are showing the world what mobilization of climate action looks like at scale.”
Lime’s Head of Global Business Development and Partnerships Sara Lannin stated, “Lime and Aspiration share a value of reducing carbon emissions globally, so we’re excited to work with them and help our riders make a positive impact towards a healthier planet. This partnership also signifies the need for companies to collaborate and offer creative solutions in which we can help customers make simple, tangible changes as we fight the climate crisis.”
Aspiration’s partnership with Lime is one that makes a lot of sense. Not only is the pairing beneficial for each company and their customers but could also make an environmental impact. Although, in the past, the neobank has had some issues balancing its environmental goals with being a competitive banking platform, partnerships such as this, as well as the one with Blue Apron, show why Aspiration remains a popular and intriguing startup to watch.
