Goldman to buy GreenSky fractional payment service for $ 2.24 billion

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Goldman to buy GreenSky fractional payment service for $ 2.24 billion

New York, Sep 15 (EFE) .- The investment bank Goldman Sachs will buy for 2,240 million dollars the financial services platform GreenSky, which offers installment payments on purchases without the need to use credit cards.

In the announcement of the acquisition, which will be carried out in exchange for shares of Goldman Sachs, Greensky was described as “the largest financial services technology platform for loans aimed at home renovations.”

The purchase is expected to close in the first quarter of 2022, says the statement from both companies, a decision that will help Goldman Sachs strengthen its position in the consumer finance services market, outside of its usual management sector. investment of the wealthiest.

“We have been very clear about our aspirations for Marcus,” Goldman CEO David Solomon said in the statement, referring to their consumer finance services that started five years ago, and that they want to become the “platform for the future”.

“Our acquisition of GreenSky leads us to advance that goal,” added Solomon.

Following news of the acquisition, GreenSly shares soared more than 50% on Wall Street.

Like its competitors Affirm and Klarna, GreenSky avoids the use of credit cards for acquisitions with loans that are paid over months or weeks without interest.

The presence in the market of companies that facilitate online payment installments has increased notably this year: Affirm went public last January, while Square announced the purchase of Afterpay in August for 29,000 million, and PaypPal bought a Japanese version for $ 2.7 billion last week.

(c) EFE Agency

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