- Walmart (NYSE:WMT) announces the creation of a new fintech startup designed to develop and offer modern, innovative and affordable financial solutions.
- The new company is a strategic partnership with leading fintech investment firm Ribbit Capital and is aimed at combining Walmart's retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial services.
- The startup will be majority-owned by Walmart.
- Source: Press Release
- Shares of Walmart are up 2.04% AH. Investors have bid up Walmart since the Georgia Senate runoffs were won by the Democrat candidates to increase the odds for new stimulus.