Independent fintech company, Hazel, has acquired fellow fintech platforms Even and ONE, giving the business immediate momentum in its strategy to deliver a single financial services app to its users. The fintech will operate under the ONE brand after the transactions close and will continue to help consumers get paid, spend, save, borrow and grow their money.
Hazel has been backed by Walmart and Ribbit Capital as strategic investors, and after the transactions, the company will have access to Walmart’s 1.6 million U.S. associates and over 100 million weekly shoppers. The combined business will have more than 200 employees and over $250 million in cash to fund future growth. Omer Ismail will lead the combined business as CEO of ONE, while David Baga, CEO of Even, and Brian Hamilton, co-founder of ONE, will remain in key leadership positions.
Said Omer Ismail, incoming CEO of ONE, “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. 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.”