A growing world-class team: This combination brings together industry-leading teams from Even and ONE, with plans to expand ONE post-close by hiring best-in-class talent, including through potential M&A.Together, the businesses will be integrated into a single app that will be available to consumers everywhere as ONE, along with: The moves bring together two established platforms in Even, a financial benefits platform that enables employees to access their earned wages on-demand, budget and save, and ONE, a direct-to-consumer fintech that partners with Coastal Community Bank to seamlessly combine saving, spending and borrowing in one digital account. I’m looking forward to partnering with two stellar leaders in Brian and David to improve the financial lives of tens of millions of consumers.” “Our vision is clear: build on Even and ONE’s success to offer a product that offers consumers the best way to spend, the best way to access their wages and helps millions save and grow their money. “Consumers everywhere are being left behind by the world of financial services,” said Omer Ismail, incoming CEO of ONE. Upon closing of the transactions, the combined business will have more than 200 employees and be capitalized with more than $250 million in cash on the balance sheet to fund future growth.
David Baga, CEO of Even, and Brian Hamilton, co-founder of ONE, will remain in key leadership positions. Omer Ismail will lead the combined business as CEO of ONE. associates and 100 million-plus weekly shoppers. 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 U.S.
The combined business, which will operate under the brand name ONE, will provide users with an all-in-one financial services app to holistically manage their finances in one place. adults are unbanked or underbanked and roughly 80% of fintech users rely on multiple accounts to manage their finances. Millions of Americans today can’t access credit, build savings or wealth and are left to manage their financial lives through multiple disconnected apps. The transactions, which are expected to close in the first half of 2022 pending approvals, equip the combined business with immediate momentum in its strategy to deliver a single financial services app that empowers consumers to get paid, spend, save, borrow and grow their money. NEW YORK, JanuHazel, the independent fintech launched in partnership with Walmart and leading investment firm Ribbit Capital, today announced that it has entered into definitive agreements to acquire fintech platforms Even and ONE, marking the startup’s emergence from stealth mode.
The fintech will operate under the ONE brand after the transactions close and will deliver products to help consumers get paid, spend, save, borrow and grow their moneyĬompany backed by Walmart and Ribbit Capital as strategic investors Omer Ismail will lead the combined business as CEO Hazel Announces Definitive Merger Agreements with Even and ONE to Build a Business That Empowers Consumers to Improve Their Financial Lives
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