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Walmart-Backed Fintech Startup Is Acquiring Two Firms and a New Name
The financial-technology startup backed by Walmart Inc. WMT 1.65% said it plans to purchase two small firms and launch under a new brand.
The firm, helmed by two former Goldman Sachs Group Inc. executives, will buy Even Responsible Finance Inc., which is used by employers to offer workers their paychecks early and counts Walmart as a large customer. It will also buy ONE Finance Inc., 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.
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