OnePay
“Can Walmart's embedded fintech platform become the primary financial account for America's working and middle class by bundling banking, credit, investing, and crypto with retail rewards?”
Founded2019
HQSan Francisco, CA / Sacramento, CA, USA
FoundersBill Harris, Brian Hamilton
Total raised$26M+ (as of Series A)
Latest roundSeries B (acquired/backed by Walmart)
IndustryFintech / Consumer banking
The story
Founded in 2019 as 'One', a neobank targeting the middle class via a unified account with smart spending features. Walmart's acquisition gave the company distribution at scale — pivoting from a standalone neobank to the embedded financial OS for Walmart's 1.6M US employees and millions of shoppers. Rebranded as OnePay in 2024, the company has rapidly expanded beyond deposits into investing, crypto, BNPL, and now stablecoin infrastructure — positioning itself as a full-stack consumer fintech platform anchored by Walmart's retail footprint.
Last 12 months
Product timeline
2019
Founded as 'One' neobank targeting the middle class; raised $9M seed from co-founder Bill Harris.· banking
2021
Raised $17M Series A from Foundation Capital, Core Innovation Capital, and Obvious Ventures; launched core banking product.· banking
2022
Walmart acquired a majority stake and began integrating One into its employee and shopper financial services ecosystem under the ONE@Work brand.· acquisition
2023
Launched OnePay Invest (stock investing) and OnePay Crypto, expanding beyond banking.· banking
2024
Rebranded from 'One' to 'OnePay'; launched CashRewards World Mastercard with Walmart+ integration and Credit Builder Loan.· card
2025
Launched OnePay Advance (cash advance product) and OnePay Pay Later (BNPL via Klarna partnership).· lending
2026
Announced partnership with Tempo (Stripe/Paradigm-incubated Layer-1 blockchain) for stablecoin-powered payouts and account funding.· pivot
Regulated entities
NMLS
US
OneProgress Services LLC
The stack
Banking / BaaS
Card issuing
Lending
OnePay Advance (cash advance / short-term credit line)Credit Builder Loan ($1/month, via OneProgress Services LLC / Coastal Community Bank)OnePay Pay Later / Swipe to Finance (post-purchase BNPL powered by Klarna)OnePay Later (installment payment plans)
KYC
Sponsor bank
Crypto
Accounting gap: none