The transactions, which are expected to close in the first half of 2022 pending approvals, equip the combined business with momentum in its strategy to deliver a single financial services app that helps consumers to get paid, spend, save, borrow, and grow their money.
The combined business, which will operate under the brand name ONE, will provide users with an all-in-one financial services app to manage their finances in one place. The company’s products and services will be made available directly to consumers and through employers and merchants, including access to Walmart’s 1.6 million US associates and 100 million-plus weekly shoppers.
Upon closing of the transactions, the combined business will have more than 200 employees and be capitalised with more than USD 250 million in cash on the balance sheet to fund future growth.
Even is a financial benefits platform that pairs earned wage access with tools for budgeting, emergency savings and visibility into projected net earnings to better support the financial health of its users.
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