BENTONVILLE, Ark.—A Walmart-backed fintech startup is acquiring two firms and a new name.
The financial-technology startup backed by Walmart, to be called ONE, aims to build a “financial services super app,” The Wall Street Journal reported.
The firm, helmed by two former Goldman Sachs Group executives, will buy Even Responsible Finance, which is used by employers to offer workers their paychecks early and counts Walmart as a large customer, according to the report.
It will also buy ONE Finance, a financial-services mobile app known as a neobank that allows users to manage money and apply for a debit card or other services that come with lower fees than traditional banks typically charge, The Journal said.
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