Goldman Sachs acquires BNPL firm GreenSky in $2.2bn deal
Goldman Sachs is acquiring fintech lender and buy now, pay later (BNPL) provider GreenSky in a $2.24 billion deal.
The deal, which is all stock, is expected to close in 2022. Goldman Sachs sees the deal as a chance for it to boost its entry into consumer finance markets.
The US banking giant will furnish its Marcus banking app with capabilities from the GreenSky platform.
It has already added automated investing and personal finance to Marcus, and inked partnerships with a range of major companies including Amazon and Apple.
GreenSky offers loans paid back over weeks and months, usually for large purchases. The company services a $9 billion loan portfolio and claims to have financed more than $30 billion overall.
“We have been clear in our aspiration for Marcus to become the consumer banking platform of the future,” says David Solomon, chairman and CEO of Goldman Sachs.
“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.”