KEY POINTS
  • A Walmart-backed financial technology start-up is acquiring two more companies as it looks to build an all-in-one app where consumers can manage their money.
  • Omer Ismail, a former Goldman Sachs executive, will lead the combined business that will be called ONE.
  • When the two acquisitions close, the growing start-up will have more than 200 employees and over $250 million in cash on the balance sheet to fuel growth.

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Black Friday shoppers walk out of Walmart with a full shopping cart on November 26, 2021 in Westminster, Colorado.

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.

In this article