(12/12) Walmart's fintech venture One just hit a $2.5 billion valuation, signaling the retail giant's big move into financial services. Partnering with Ribbit Capital, Walmart is aiming to hook its massive customer and employee base with products like debit cards, installment loans, and early wage access.

One, formed from the merger of two smaller companies, now boasts a run-rate revenue of more than $200 million based on its November results and is processing over $15 billion in payment flow. It also offers early wage access to Walmart’s more than 1.6 million employees in the US.

The company counts more than 3 million monthly active users, and when Walmart reissues its credit card with a new banking partner next year, it will be launched by One, the people said. Led by ex-Goldman Sachs exec Omer Ismail, One is quickly gaining ground as banks nervously eye Walmart’s “extraordinary competitive advantage” in challenging traditional financial players. [Bloomberg]

A little backstory

If you’re not following our friends at Fintech Business Weekly, you really should.

In January 2021, Jason Mikula wrote a great profile on One Finance (before it was called that and when it was just an idea). In the piece, Jason briefly explains “Walmart’s confusing history in financial services.” 

He ends by saying:

And we think they have.

The team at One Finance has proven their ability to execute well. And they’ve done a wonderful job marketing their value props to millions of Americans. 3 million monthly active users is a testament to this.

The Toaster team can’t help but tip our hat to them.

(12/11) NerdWallet is making its Super Bowl debut with a $7 million, 30-second ad during the third quarter of the Big Game, marking a bold step in its “step-up strategy” to expand its reach. Known for helping people make smarter financial decisions, the company, alongside agency Deutsch, plans a larger 360-degree campaign across TV, streaming, podcasts, and social media. This move follows NerdWallet’s deeper dive into live sports, including NFL games, MLS sponsorships, and NIL deals with college athletes like Travis Hunter and JuJu Watkins. With its lighthearted tone, NerdWallet hopes to inspire consumers to “demand the best financial products” just as they would for travel or tech. [Adweek]

(12/16) Famous marketer Neil Patel shares data about content types with the highest ROIs. You might want to second-guess jumping on the TikTok bandwagon. [Neil Patel on X]

(12/12) Upbound Group is acquiring financial health tech firm Brigit for up to $460 million, accelerating its mission to serve underserved consumers with innovative financial solutions. Brigit, known for its AI-powered cash flow tools, boasts nearly 2 million monthly active users and products like Instant Cash advances, credit building, and financial wellness resources. Brigit’s team will operate as a business segment of Upbound, enhancing its tech capabilities and broadening its reach beyond lease-to-own services. [Business Wire]

(12/13) The Blueprint for AI-Powered Marketing, a collaboration between BCG and Google, provides a roadmap for AI adoption, based on a survey of 2,000 marketing executives across 10 global markets and multiple industries. While 80% of companies are still experimenting, the top 20%—leaders in AI—achieve 60% higher revenue growth by integrating AI for real-time targeting, predictive analytics, and creative acceleration. The report outlines four stages to AI excellence, emphasizing the need to build strong data foundations, scale use cases, and ultimately create a “Marketer-AI flywheel” where AI drives strategy, execution, and growth. [BCG]

(12/17) Miguel Armaza interviews Daragh Murphy, CEO & Co-Founder of Imprint, a fast-growing fintech that has raised $200 million to disrupt the co-branded credit card space. [Fintech Leaders]

(12/13) Zest AI, a leader in AI lending technology, secured a $200 million growth investment from Insight Partners to accelerate product innovation and pursue strategic acquisitions. Zest AI's technology revolutionizes credit underwriting by analyzing thousands of data points, automating up to 80% of loan applications, and reducing charge-offs by 20%, enabling lenders to grow their businesses by over 25%. With over 50 patents and 500 active AI credit models, Zest plans to enhance fraud protection, expand generative AI capabilities, and build a robust lending ecosystem. Insight Partners’ investment marks its third since 2020, reflecting Zest AI's 50% annual growth rate and a customer base managing $5.5 trillion in assets. [PRNewswire]

(12/13) Financial brands are pulling out all the stops to court Gen Z, a generation expected to control $12 trillion by 2030. They’re diving into fandoms with passion-point marketing, like Mastercard’s esports and a Formula 1 sponsorship, while BNPL platforms like Zip target young buyers avoiding credit card interest. The push also includes family-focused banking plans, and campaigns centered on inclusivity, purpose, and financial literacy to snag loyalty before the "great wealth transfer" kicks in. It’s a race to stay relevant as fintechs blur lines with legacy banks. [Ad Age]

(12/11) Ibanera, a Miami-based digital banking platform, is teaming up with FIS to launch a prepaid card program in the U.S., aimed at businesses and consumers alike. The program offers multi-currency transactions through Visa’s global network using reloadable physical and virtual cards. Users can top up through methods like Fedwire and FedNow, while the program also supports "tokenized cards" for secure digital wallet payments. Known for its expertise in card services and cross-border payments, Ibanera continues to strengthen its partnership with Visa after their collaboration on fraud protection earlier this year. [Fintech Futures]

Director of Growth Strategist [Snap Finance]

This role is for an insight-driven storyteller who blends creativity and analytical skills to craft impactful narratives from data, with a strong passion for D2C marketing in the financial sector. As the strategy leader for Snap's digital, paid, and lifecycle teams, they will leverage data to shape strategic agendas, manage campaigns, optimize marketing channels, and drive continuous improvement. The ideal candidate has 7+ years of marketing experience, excels in fast-paced environments, and thrives in cross-functional collaboration, using their communication and leadership skills to deliver business-critical results.

Be sure to check out (and subscribe) to the newsletter from our friends at Fiat Growth.

Fiat Growth is a strategic marketing consultancy dedicated to data-driven decisions, innovation, and execution. We work with leading fintech, insurtech, and rewards brands to build partnerships that scale growth and optimize client KPIs.

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