Walmart Creates Fintech Startup, Speeding Push Beyond Retail
- Retail giant partners with Robinhood investor Ribbit Capital
- Move may help Walmart move closer to getting a banking charter
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In a bid to better leverage its millions of customers, retail giant Walmart Inc. created a fintech startup to win more of their spending.
The company has formed a partnership with Ribbit Capital, an investor in stock-trading platform Robinhood, to start a venture that “will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences tailored to Walmart’s customers and associates,” according to a statement.