Walmart Partners with Hazel and Ribbit Capital to Acquire Fintech Platforms Even and ONE
Jan 26, 2022 By MarketDepth
Walmart Inc. (NYSE: WMT) announces a partnership with Ribbit Capital and Hazel to acquire fintech platforms Even and One. The transactions are expected to close within the first half of 2022 pending approvals. “Consumers everywhere are being left behind by the world of financial services,” said Omer Ismail, incoming CEO of ONE. “Our vision is clear: build on Even and ONE’s success to offer a product that offers consumers the best way to spend, the best way to access their wages and helps millions save and grow their money. I’m looking forward to partnering with two stellar leaders in Brian and David to improve the financial lives of tens of millions of consumers.”
“Walmart is constantly looking for new ways to deliver on our core mission of helping our customers save money and live better. Customers have made it clear that they want more from us in the financial services arena. Creating a simple, personalized app that allows users to manage their money in one place is the natural next step toward fulfilling that. We couldn’t be more excited about what this will mean for Walmart customers, associates and consumers everywhere as we try to help empower millions to improve their financial lives.”
John Furner, president and CEO, Walmart U.S. and board member of the combined business
“Consumers are always seeking better services, and in financial services this means transparency, access and simplicity,” said Micky Malka, managing partner, Ribbit Capital and board member of the combined business. “The combination of these world-class teams and products will give ONE a unique opportunity to bring a new level of service and access to millions of Americans.”
