One
- Company typePrivate
- Founded2020
- HeadquartersNew York, United States
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
What One does
One Finance, Inc. (DBA OnePay) is a US-based mobile-first fintech founded in 2019 and headquartered in San Francisco, operating a consumer financial super-app built around the Walmart ecosystem. The platform bundles FDIC-insured banking (provided through partner banks Coastal Community Bank and Lead Bank) with a $1/month Credit Builder Loan (serviced by OneProgress Services LLC), a CashRewards Mastercard (issued by Synchrony Bank), a Pay Later BNPL product (originated by WebBank and powered by Klarna), an investing platform (brokerage by One Growth Securities LLC with clearing/custody by DriveWealth LLC), a crypto trading feature (powered by Zero Hash), a rewards-bearing digital wallet, free credit score monitoring, and free tax filing. Architecture is mobile-native, self-serve, and product-led; distribution relies on app stores, employer and gig-platform partnerships (@Work, Spark Drivers), and embedded Walmart integration.
OnePay serves budget-conscious consumers and Walmart shoppers as the primary segment, with secondary focus on gig-economy workers (delivery drivers via Spark) and employers seeking financial wellness benefits. The company monetizes through credit card interchange on CashRewards spend, BNPL interest revenue share (9.99%-35.99% APR), the $1/month Credit Builder subscription, brokerage-related fees, crypto transaction fees, and interchange on debit activity. Regulatory status includes FDIC pass-through deposit insurance, FINRA/SIPC membership for investing, and Mastercard licensing for card products; OnePay is explicitly a financial technology company, not a bank. The firm is privately held, venture-backed (cumulative disclosed funding of approximately $66M across 2019-2021 rounds led by Foundation Capital and Progressive Investment Company), employs 251-500 people, and reports millions of customers with 151K+ Google Play reviews and a 4.9/5 Apple App Store average rating.
One firmographics
Firmographics- Name
- One
- Legal name
- One Finance, Inc.
- Website
- https://onefinance.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Ownership category
- akta.pro rank
One industry classification
Industry- Product category
- Digital Banking / Consumer Fintech
- NAICS
- Credit Card Issuing (522210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
- akta.pro primary industry
- Card Issuing Platforms (Issuer Processing) (FSAGABAD)
- akta.pro secondary industry
- Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)
Keywords
Where One is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
One business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations
Revenue model
- Credit Builder Subscription: Monthly subscription fee of $1/month for credit builder program access. Low-cost entry product designed to acquire customers and build credit relationship.
- Credit Card Interchange: Earns interchange fees on CashRewards Mastercard transactions. Cash back costs (3-5% at Walmart) partially offset by interchange revenue and potentially cross-subsidized by other services.
- Installment Financing Interest: Revenue from Pay Later installment loans with APR ranging 9.99%-35.99% based on creditworthiness. Originated through Klarna/WebBank partnership with OnePay receiving a share.
- Investment Platform Revenue: Revenue from investment account services offered through One Growth Securities LLC. Brokerage services with associated fees.
- Crypto Trading Fees: Fees from cryptocurrency transactions, as disclosed in customer agreement. Cryptocurrency custody and trading powered by Zero Hash.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Basic Banking - Free tier with core features |
| Subscription | Monthly | Banking+ - Enhanced services for higher-balance customers |
| Subscription | Monthly | Credit Builder Loan - Build credit for $1/month |
| Transaction based/ take rate | Monthly | CashRewards Mastercard - Cash back credit card |
| Transaction based/ take rate | Pay-as-you-go | Pay Later - Installment financing |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
One product offering
Product offeringCore offering
One (OnePay) is a mobile-first financial technology platform offering FDIC-insured banking, credit builder loans, stock investing, cryptocurrency trading, cashback credit cards, buy-now-pay-later financing, and digital wallet services through a single app, primarily designed for Walmart shoppers and budget-conscious consumers. Banking and lending services are delivered through partner banks (Coastal Community Bank, Lead Bank, Synchrony Bank, WebBank), while OnePay itself is not a bank. The platform earns revenue from subscriptions, interchange, interest, brokerage fees, and crypto transaction fees.
Product overview
OnePay is a financial technology company offering a comprehensive digital banking and financial services platform designed primarily for Walmart shoppers. The core offering centers on Banking products (Banking and Banking+ tiers) paired with a Credit Builder Loan for credit-building purposes. The platform expands into financial services including stock investing (OnePay Invest), cryptocurrency trading (OnePay Crypto), credit cards (OnePay CashRewards Mastercard), and buy-now-pay-later financing (OnePay Pay Later). Additional value-added services include a digital Wallet with rewards points, free Credit Score monitoring, and free Tax filing. The platform also serves enterprise clients through dedicated Employer, Gig Platforms, and HR Tech offerings. All banking services are provided through partner banks (Coastal Community Bank and Lead Bank) with FDIC insurance coverage.
Differentiator
Problem solved
Functional benefit
Products and services
- OnePay Banking Digital banking platform offering early direct deposit access, high-yield savings, and a secured debit card (Builder Card) that helps build credit with every swipe, for individual consumers.
- OnePay Banking+ Premium banking tier providing enhanced benefits including Early Pay (up to 2 days advance on direct deposits) and high-yield savings, available to customers with $500+ in direct deposits or $5,000+ balance.
- OnePay Credit Builder Loan Credit-building loan program with zero fees and zero interest at $1/month, reporting activity to credit bureaus to help consumers establish or improve credit history.
- OnePay Invest Stock market investing platform allowing customers to start investing with as little as $1, with brokerage services provided by One Growth Securities LLC (FINRA/SIPC member) and clearing/custody by DriveWealth LLC.
- OnePay Crypto Cryptocurrency trading feature enabling users to buy, sell, and track cryptocurrency within the app, with transaction and custody services powered by Zero Hash.
- OnePay CashRewards Mastercard Mastercard credit card offering unlimited 3% cash back at Walmart (5% for Walmart+ members), zero annual fee, issued by Synchrony Bank pursuant to a Mastercard license, with variable Purchase APR of 20.99% or 31.49%.
- OnePay Pay Later Buy-now-pay-later financing service available at Walmart, powered by Klarna with loans issued by WebBank, offering monthly financing rates from 9.99%-35.99% APR based on creditworthiness.
- OnePay Wallet Digital wallet that earns OnePay Points when used with any credit or debit card, redeemable for cash back when banking through OnePay.
- OnePay Taxes Free tax filing service available to customers who bank through OnePay.
Quantifiable outcome
- 151K+ Google Play reviews with high user satisfaction
- +2 more outcomes
Companies that use One
Customer profileSegments3 records
Ideal customer profiles3 records
One technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature5 records
One partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- OneProgress Services LLCcoreNMLS ID 2460509. Provides credit builder loan program services and manages loan servicing. Powers the $1/month Credit Builder Loan product that reports to credit bureaus.
- One Growth Securities LLCcoreFINRA/SIPC member providing brokerage services for OnePay Invest platform. Enables stock market investing starting at $1 within the OnePay app.
- DriveWealth LLCcoreFINRA/SIPC member providing clearing and custody services for OnePay Invest platform. Handles trade execution and asset custody.
- Zero Hash LLC and Zero Hash Liquidity Services LLCcoreProvides cryptocurrency transaction and custody services for OnePay Crypto through agreement with OneProgress Assets LLC. Enables buy, sell, and track cryptocurrency functionality in the app.
- KlarnacorePowers the OnePay Pay Later installment financing product. Provides BNPL platform technology for flexible payment options at Walmart.
- MastercardcoreLicensor for Mastercard payment network. OnePay Builder Card and CashRewards Card operate on Mastercard network enabling global acceptance.
- WalmartcorePrimary retail partner enabling customer acquisition through Walmart ecosystem. OnePay services are designed for Walmart shoppers with 3-5% cash back at Walmart, Pay Later at Walmart, and integration with Walmart shopping experience.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
One competitors and assessment
Company assessmentDirect peers
- Chime: Chime is a leading US neobank offering fee-free checking, savings, secured credit building, and earned-wage access. It is the most direct competitor to OnePay's mobile-first banking core, targeting similar underbanked consumers with a partner-bank model.
- Cash App (Block): Cash App bundles banking, debit card, P2P, Bitcoin trading, stock investing, and tax filing into one mobile app — directly mirroring OnePay's super-app proposition to mass-market consumers. It is publicly listed and substantially larger.
- SoFi: SoFi offers checking, savings, credit cards, investing, crypto, and personal loans through a chartered national bank. It competes with OnePay across nearly every product line and benefits from holding its own bank charter rather than relying on partners.
- Current: Current is a mobile-first neobank emphasizing credit building, early payday, and points-based rewards for underbanked consumers — directly overlapping OnePay's Banking+ and Credit Builder propositions.
- Dave: Dave offers budgeting, early wage access, and a banking account (via partner bank) targeting gig and hourly workers — closely aligned with OnePay's @Work and Spark Driver employer/gig channel strategy.
- Step: Step is a mobile-first banking and credit-building platform aimed at teens, young adults, and families — directly overlapping OnePay's secured card and credit builder offering for younger, credit-invisible users.
- Affirm: Affirm is a leading US BNPL lender that competes directly with OnePay Pay Later (powered by Klarna). Affirm's wider merchant footprint and balance-sheet lending model make it the most relevant competitor in OnePay's BNPL module.
- Varo Bank: Varo is a chartered digital bank offering checking, savings, and credit-building products to underbanked consumers — competing head-to-head with OnePay's banking and credit builder core, with the structural advantage of holding its own bank charter.
Broad incumbents
- Green Dot: Green Dot is a large fintech and bank holding company that powers banking-as-a-service for many retail partners (including Walmart historically) and competes with OnePay in the underbanked and prepaid debit card space. Its BaaS platform overlaps OnePay's embedded-finance thesis.
- PayPal: PayPal offers digital wallet, Pay Later (BNPL), credit card, crypto trading, and rewards — overlapping every module in OnePay's super-app. As a much larger incumbent with established brand and merchant relationships, it represents a significant competitive ceiling.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
One social profiles
Digital presenceOne compliance and trust
Trust signalCompliance3 records
One financial estimates
Financial estimateRevenue estimate
Valuation estimate
One leadership team
Management profileNumber of profiles
One funding detail
Funding detailFunding overview
Funding rounds7 records
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
One M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about One
What does One do?
One (OnePay) is a mobile-first financial technology platform offering FDIC-insured banking, credit builder loans, stock investing, cryptocurrency trading, cashback credit cards, buy-now-pay-later financing, and digital wallet services through a single app, primarily designed for Walmart shoppers and budget-conscious consumers. Banking and lending services are delivered through partner banks (Coastal Community Bank, Lead Bank, Synchrony Bank, WebBank), while OnePay itself is not a bank. The platform earns revenue from subscriptions, interchange, interest, brokerage fees, and crypto transaction fees.
Is One a public or private company?
One is a private company. It is classified as venture growth investor backed and is currently operating.
When was One founded?
One was founded in 2020. It employs 501 to 1,000 people.
Where is One based?
One is headquartered in New York, United States, in the North America region.
How does One make money?
Five revenue lines are on record. Credit Builder Subscription is the primary driver. The others are credit Card Interchange, installment Financing Interest, investment Platform Revenue and crypto Trading Fees.
Who are One's main competitors?
Direct peers on record are Chime, Cash App (Block), SoFi, Current, Dave, Step, Affirm and Varo Bank. Broad incumbents are Green Dot and PayPal.
Does One have an API?
No public API is recorded for One.
What industry is One in?
One's product category is Digital Banking / Consumer Fintech. Its primary akta.pro industry code is FSAGABAD, Card Issuing Platforms (Issuer Processing), with a secondary code of FSAGALAE, Embedded Deposit Accounts & Digital Wallet Infrastructure. Its NAICS code is 522210 and its SIC code is 6200.