Goldman Sachs is acquiring digital lender GreenSky for $2.24 billion as the investment bank pushes further into consumer finance.
Greensky shares soared higher on Wednesday following a move by Goldman Sachs GS to buy the online ‘buy now, pay later’ lending platform for around $2.2 billion.
The all-stock deal for GreenSky, called the biggest fintech platform for home improvement loans iis expected to close by the first quarter of 2022, in a release announcing the transaction.
“We have been clear in our aspiration for Marcus to become the consumer banking platform of the future, and the acquisition of GreenSky advances this goal,” Goldman CEO David Solomon said in the release. “GreenSky and its talented team have built an impressive, cloud-native platform that will allow Marcus to reach a new and active set of merchants and customers.”
– CNBC