(Reuters) – Fintech startup Aspiration, backed by Hollywood celebrities Robert Downey Jr and Leonardo DiCaprio, on Thursday announced the appointment of Olivia Albrecht as its recent Chief Executive Officer.
Albrecht, who joined the corporate earlier this 12 months as Chief Sustainability Officer, succeeds Aspiration co-founder Andrei Cherny who served as CEO for nine years. Cherny will retain his position on the board, the corporate said in a press release.
Aspiration’s leadership change comes as the corporate’s merger with blank-check firm InterPrivate III Financial Partners Inc continues to be delayed.
Last 12 months, InterPrivate said it could take the startup public in a deal valuing Aspiration at $2.3 billion. The merger, which was expected to be closed by the primary quarter of 2022, is yet to be accomplished.
California-based Aspiration, which provides banking services, bank cards and investment products, had raised $315 million from funds managed by Oaktree Capital Management and affiliates of former Microsoft Corp CEO Steve Ballmer late last 12 months.
(Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna Chandra Eluri)
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