Goldman is looking to acquire PFM app Clarity Money and fold it into it's Marcus unit, which has originated more than $2b in loans since it was started in 2016. The bank seems to be looking for new ways to push deeper into consumer retail finance.
Goldman Sachs Group Inc. is in discussions to acquire personal-finance startup Clarity Money, with plans to fold it into its Marcus online lender, according to people familiar with the matter. A deal hasn’t been finalized and could still fall through, the people said, asking not to be identified because the talks are ongoing. The agreement would be subject to regulatory approval, according to one of the people. Goldman Sachs is stepping up efforts to do more with consumers nearly a decade after its conversion into a bank allowed it to accept retail deposits. The firm’s Marcus unit, which began making personal loans on the internet in 2016, has originated more than $2 billion and the firm is looking for ways to expand that reach.
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