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Walmart's Fintech OnePay Doubles Valuation
10 Jan
Summary
- OnePay's valuation increased to over $4 billion.
- Walmart's fintech arm secured $300 million in 2024.
- The super app gained 3 million users via Walmart partnership.
Walmart's fintech venture, OnePay, has recently reached a valuation surpassing $4 billion, a substantial leap from its $2.5 billion valuation in 2024. This surge was driven by a share buyback from employees, underscoring the company's impressive growth trajectory.
In 2024, OnePay secured $300 million in funding, co-led by retail giant Walmart and investment firm Ribbit Capital. The company, formally known as One Finance Inc., has rapidly expanded its user base to over 3 million monthly active users, largely attributed to an exclusive distribution partnership with Walmart.
Since 2022, OnePay has diversified its offerings significantly. Customers can now access a credit card, a buy now, pay later service, an investing platform, and even cryptocurrency trading through its integrated 'super app' platform.
