Big Law
A Walmart-Backed Financial Tech Start-Up Acquires Two Companies
A financial technology start-up that Walmart created and backed said Wednesday it is acquiring two more companies as it aims to build an all-in-one app where consumers can manage their money.
The combined company will be called ONE, the name of one of the firms that the fintech start-up is acquiring. It is also purchasing another fintech company, Even. Financial terms were not disclosed.
Walmart — the country’s largest private employer and biggest grocer — announced an effort last year to develop unique, affordable financial products that it could offer its millions of customers and employees. It said it was teaming up with Ribbit Capital, one of the investment firms behind Robinhood, to launch an independent fintech start-up.
