Goldman Sachs Group has signed a deal to acquire GreenSky, a fintech platform for home improvement consumer loan originations, in an all-stock transaction valued at approximately US$2.24 billion.

GreenSky’s differentiated lending capabilities and market-leading merchant and consumer ecosystem will help accelerate the efforts of Goldman Sachs to create the consumer banking platform of the future.

Since its founding, GreenSky has provided simple and transparent home improvement financing solutions for approximately four million customers.

GreenSky has a growing network of over 10,000 merchants and helps them accelerate their business by incorporating a seamless financing experience into their commerce flow.

“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.

 

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 and provide them with an expanding set of solutions.”

said David M. Solomon, Chairman and CEO of Goldman Sachs.

This article first appeared on Fintech News Switzerland.