Goldman Sachs is buying purchase now, pay later fintech GreenSky for $2.2 billion | Latest News Table

Goldman Sachs is buying purchase now, pay later fintech GreenSky for $2.2 billion

David Zalik, founder and CEO of GreenSky.

Chris Hamilton | GreenSky

Goldman Sachs is buying lender GreenSky for $2.24 billion because the funding financial institution pushes additional into shopper finance.

The all-stock deal for GreenSky, known as the most important fintech platform for residence enchancment loans in a launch asserting the deal, is anticipated to shut by the primary quarter of 2022, the businesses stated on Wednesday.

“We now have been clear in our aspiration for Marcus to turn out to be the buyer banking platform of the long run, and the acquisition of GreenSky advances this purpose,” Goldman CEO David Solomon stated within the launch. “GreenSky and its proficient workforce have constructed a formidable, cloud-native platform that can enable Marcus to achieve a brand new and lively set of retailers and clients.”

GreenSky shares jumped 44% in premarket buying and selling earlier than they had been halted.

This story is growing. Please examine again for updates.

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