WMT Walmart Inc

By Adriano Marchese

Walmart Inc. said Monday that it has partnered with investment firm Ribbit Capital to create a new fintech startup to offer next-generation digital financial products.

The new company will be majority-owned by Walmart, and the board will include Chief Executive of Walmart U.S. John Furner, Executive Vice President and Chief Financial Officer Brett Biggs, as well as Meyer Malka, managing partner of Ribbit Capital.

Walmart said that it anticipates growth may come through partnerships and acquisitions with leading fintech companies.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 11, 2021 16:53 ET (21:53 GMT)

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