Walmart Startup Hazel Acquires Two Fintech Firms to Develop Finance Super App
- Walmart’s startup announced the acquisition of two fintech companies.
- The acquisition would enable Hazel to develop a financial services super app.

On January 26, Walmart’s fintech venture firm, Hazel, announced that it is acquiring two financial technology companies as it aims to develop a financial services super app where consumers can manage their money.
Hazel, a fintech startup that Walmart created and backed, said that it is acquiring a fintech firm called ‘Even Responsible Finance’ as well as another fintech company, ‘One Finance.’ Financial terms were undisclosed.
Last year, Walmart partnered with Ribbit Capital, one of the investment companies behind Robinhood, to launch an independent fintech startup. During that time, Walmart stated that the startup would build unique affordable financial products for its clients and employees.
The new combined business will rebrand itself as ‘ONE’. The new entity seeks to become a one-stop financial services app that allows consumers to manage and increase their finances. With two acquisitions closed, the combined business will have over $250 million in cash on the balance sheet and over 200 employees to develop growth.
The combined entity brings together the financial benefits of the platforms ‘One Finance’ and ‘Even Responsible Finance.’ The development will see the integration of the three businesses into one app which is available to customers everywhere worldwide as ‘ONE.’
In the future, the ONE app plans to become part of Walmart’s digital and physical channels to extend financial services to the retail giant’s 100 million-plus weekly shoppers and 1.6 million US associates.
Furner stated: “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.”
Walmart Is Committed to Accelerating Financial Inclusion
The announcement by the fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Read this Term backed by Walmart demonstrates the commitment being made by the giant retailer to develop modern innovative affordable financial solutions that fulfil consumers’ financial needs. For many years, Walmart has been offering domestic and international money transfers, tax preparation, bill pay services, prepaid debit cards and other financial services through its partnerships with fintech companies like PayPal, MoneyGram, NetSpend, Jackson Hewitt, American Express, Green Dot and others. In October last year, Walmart launched its pilot of Bitcoin ATM machines in 200 of its stores across the US to enable customers to buy Bitcoin at some of its stores. The move by Walmart expanding Bitcoin access to more people gave the cryptocurrency further legitimacy among skeptics.
On January 26, Walmart’s fintech venture firm, Hazel, announced that it is acquiring two financial technology companies as it aims to develop a financial services super app where consumers can manage their money.
Hazel, a fintech startup that Walmart created and backed, said that it is acquiring a fintech firm called ‘Even Responsible Finance’ as well as another fintech company, ‘One Finance.’ Financial terms were undisclosed.
Last year, Walmart partnered with Ribbit Capital, one of the investment companies behind Robinhood, to launch an independent fintech startup. During that time, Walmart stated that the startup would build unique affordable financial products for its clients and employees.
The new combined business will rebrand itself as ‘ONE’. The new entity seeks to become a one-stop financial services app that allows consumers to manage and increase their finances. With two acquisitions closed, the combined business will have over $250 million in cash on the balance sheet and over 200 employees to develop growth.
The combined entity brings together the financial benefits of the platforms ‘One Finance’ and ‘Even Responsible Finance.’ The development will see the integration of the three businesses into one app which is available to customers everywhere worldwide as ‘ONE.’
In the future, the ONE app plans to become part of Walmart’s digital and physical channels to extend financial services to the retail giant’s 100 million-plus weekly shoppers and 1.6 million US associates.
Furner stated: “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.”
Walmart Is Committed to Accelerating Financial Inclusion
The announcement by the fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Read this Term backed by Walmart demonstrates the commitment being made by the giant retailer to develop modern innovative affordable financial solutions that fulfil consumers’ financial needs. For many years, Walmart has been offering domestic and international money transfers, tax preparation, bill pay services, prepaid debit cards and other financial services through its partnerships with fintech companies like PayPal, MoneyGram, NetSpend, Jackson Hewitt, American Express, Green Dot and others. In October last year, Walmart launched its pilot of Bitcoin ATM machines in 200 of its stores across the US to enable customers to buy Bitcoin at some of its stores. The move by Walmart expanding Bitcoin access to more people gave the cryptocurrency further legitimacy among skeptics.