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Walmart-Backed Fintech to Buy Two Companies, Rebrand as ONE

Walmart Inc.’s financial-technology venture agreed to buy two small companies and rebrand itself in a step toward providing an app that enables customers to save, borrow and receive money.

The venture, Hazel, will acquire fintech platforms Even and ONE for an undisclosed amount, Walmart said in a statement Wednesday. The combined business will operate under the ONE brand name after the deals close, which is expected to happen in the first half of this year.