US retail chain Walmart announced on Monday, January 11, it has entered a strategic partnership with investment firm Ribbit Capital to create a new fintech startup.
The startup, which will be majority owned by the world’s biggest retailer, expects growth through tie-ups and acquisitions with other fintech firms, Walmart said in a statement.
Ribbit Capital’s current investment portfolio includes mobile investment platform Robinhood and consumer technology platform Credit Karma.
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