Business

Goldman Sachs is acquiring buy 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, referred to as the largest fintech platform for house enchancment loans in a release asserting the deal, is predicted to shut by the primary quarter of 2022, the businesses mentioned on Wednesday.

“We have now been clear in our aspiration for Marcus to grow to be the patron banking platform of the longer term, and the acquisition of GreenSky advances this aim,” Goldman CEO David Solomon mentioned within the launch. “GreenSky and its proficient workforce have constructed a formidable, cloud-native platform that may enable Marcus to succeed in a brand new and lively set of retailers and clients.”

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

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