By Sheetal Sukhija, New York Telegraph
16 Apr 2018, 12:59 GMT+10
NEW YORK, U.S. - In a bid to bolster its Marcus online lending business, Goldman Sachs Group Inc announced its acquisition of a personal finance startup, Clarity Money.
Clarity Money is a free app that helps consumers manage their personal finances.
The move to acquire the startup is expected to add over 1 million customers to the financial service firms Marcus business.
The company has explained that Marcus offers tools to help customers save and borrow and over time, Clarity Money will be re-branded as Marcus by Goldman Sachs.
Neither of the companies has disclosed the terms of the deal.
In October 2016, Goldman launched Marcus as a way to court Main Street borrowers saddled with credit card debt.
It offers loans from $3,500 to $40,000 and targets credit card borrowers who can benefit from consolidating debt into a single loan with a lower interest rate.
According to the company, GS Bank, a subsidiary of Goldman Sachs, is making the acquisition.
Further, the companies revealed that Clarity Money CEO Adam Dell will join Goldman Sachs as a partner.
Get a daily dose of New York Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to New York Telegraph.
More InformationWASHINGTON DC - U.S. President Donald Trump sounded upbeat about ongoing trade talks with China, as he met with Chinese ...
As the number of refugees and migrants from Venezuela continues to rise – hitting the 3.4 million mark this month ...
KINSHASA, Democratic Republic of Congo - Security forces in the Democratic Republic of Congo summarily killed at least 27 young ...
Fifteen death row inmates have been executed in Egypt so far this month despite claims from many that they were ...
BAGHDAD, Iraq - Large portions of the Islamic State in Iraq have been either killed, captured or forced underground over ...
DAMASCUS, Syria - Five bomb disposal experts have been killed in a targeted attack in Syria. A car laden with ...
Panaji (Goa) [India] Feb 23 (ANI): Goa Chief Minister Manohar Parrikar on Saturday was taken to Goa Medical College for ...
New Jersey [USA], Feb 23 (ANI): North American community of Indian Origin including a majority of organisations of the Indian ...
New York [USA], Feb 23 (ANI): More than a hundred US-based Indians protested outside the Pakistan consulate in New York ...
New York [USA], Feb 23 (ANI): Putting all speculations to rest, India's Permanent Representative to the United Nations Syed Akbaruddin ...
Image by the US Army This is an excerpt from Park Statue Politics: World War II Comfort Women Memorials in ...
TEHRAN (Tasnim) Israeli Prime Minister Benjamin Netanyahu forged an election alliance with a far-right party that could give followers of ...
DUBLIN, Ireland - Following its successful acquisition of Hollywood-based Blindlight, Irish video-gaming company Keywords Studios has now announced its latest accomplishment. Keywords r ...
Read More