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About ONE Finance
Industries
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Growth Equity (Venture Capital)
Total Funding
$291.8M
Headquarters
New York City, New York
Founded
2022
Overview
One.app provides a digital banking platform that allows users to manage their finances through a mobile app. While it is not a bank itself, it collaborates with Coastal Community Bank to offer banking services, including a debit Mastercard®. The app caters to a wide range of clients, from individuals to small businesses, seeking a convenient and cost-effective way to handle their money. One.app's standout feature is its high-yield savings account, which offers an Annual Percentage Yield (APY) of up to 5.00% on balances up to $250,000, significantly higher than typical savings accounts. The company generates revenue through interchange fees when customers use their debit card for purchases. Additionally, it provides benefits like early direct deposit, cash back at Walmart, instant money transfers, and overdraft protection. One.app aims to enhance the financial management experience for its users by combining technology with attractive savings options.
Simplify's Take
What believers are saying
- Walmart's backing values One at $2.5 billion, boosting credibility.
- Integration of AI-driven financial advisory services can enhance user experience.
- Growing digital wallet popularity offers expansion opportunities for One.
What critics are saying
- Amazon's expansion into financial services could impact One's market share.
- Regulatory scrutiny may delay Walmart's BNPL service launch through One.
- Affirm's growth in consumer financing poses a competitive threat to One.
What makes ONE Finance unique
- One offers a high-yield savings account with up to 5.00% APY.
- The app provides early direct deposit and cash back at Walmart.
- One partners with Coastal Community Bank for banking services.
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Funding
Total Funding
$291.8M
Above
Industry Average
Funded Over
2 Rounds
Benefits
401(k) Company Match
Flexible Work Hours
Remote Work Options
Stock Options
Paid Vacation
Paid Sick Leave
Paid Parental Leave
Paid Caregiver Leave
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 3%2 year growth
↑ 1%It seems as if consumers can buy just about anything from Amazon. Now, you can add cars to that list. Can Amazon Autos become a go-to destination for car buyers, providing Amazon with a competitive edge in an area where Walmart has yet to establish a strong presence?. While Walmart does sell and even buy cars through its Carsaver partnership, the company still relies on third parties to handle the bulk of the transaction process. This leaves an opportunity for Amazon to take a more direct approach, leveraging its vast ecosystem and tech-driven conveniences to elevate the car-buying experience
Walmart is injecting more funds into its fintech startup, One, achieving a valuation of $2.5 billion. This move underscores Walmart's ambition to expand further into financial services. The retail giant, alongside investment firm Ribbit Capital, is leading a funding round exceeding $300 million. Walmart holds a majority stake in One, aiming to strengthen its position in the financial services sector.
Walmart and investment firm Ribbit Capital are reportedly leading a funding round of more than $300 million for FinTech startup One, which is majority-owned by Walmart. The round, which has not closed, would value One at $2.5 billion before the new money is raised, Bloomberg reported Thursday (Dec. 12), citing an unnamed source. Neither Walmart nor Ribbit Capital immediately replied to PYMNTS’ request for comment
Although it didn’t address two big elephants in the room, buy now, pay later company Affirm rode solid advancements in its debit card and gross merchandise volume metrics to better-than-expected Q3 earnings results. In what is a continuing referendum on consumer spend this earnings season, CEO Max Levchin painted a picture of a consumer financing FinTech that is cautiously increasing its risk exposure by extending credit to a larger consumer base while trying to maintain control over credit outcomes. As the company reported Wednesday morning (May 8), Affirm saw its gross merchandise volume (GMV) surge 36% year-over-year to $6.3 billion, marking the fourth consecutive quarter of accelerating growth
Salad Money partners with D - One for Open Banking services further expansion into open banking for The ClearScore Group.
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About ONE Finance
Industries
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Growth Equity (Venture Capital)
Total Funding
$291.8M
Headquarters
New York City, New York
Founded
2022
ONE Finance is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today