Report: Walmart and Ribbit Lead FinTech One's $300 Million Funding Round

Funding and Valuation - Walmart and Ribbit Capital are leading a funding round of over $300 million for FinTech startup One, valuing the company at$2.5 billion pre-funding [1] - One has a run-rate revenue exceeding $200 million and processes over$15 billion in payment flow [3] Business Model and Services - One aims to provide financial services to Walmart's extensive customer base and its 1.6 million employees, offering products such as installment loans, debit cards, payment services, and early wage access [2][4] - The startup began offering buy now, pay later (BNPL) loans for purchases ranging from $100 to several thousand dollars in categories like electronics and jewelry [5] Future Developments - One is set to launch Walmart's credit card in partnership with a new banking partner in 2025 [3] - Walmart's CFO indicated that financial services is an area where the company may not be fully leveraging its potential, suggesting future growth in this sector [5][6]