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News by FinTech Collective Archive

Goldman Sachs Nears Deal to Sell Its Fintech App

Gareth Jones

September 21, 2018

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Gareth Jones

Goldman is in talks to spin out "Simon" (or Structured Investment Marketplace and Online) a 3yr old app which sells complex financial products to retail investors. According to Reuters the asking price is $100m.

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Several companies, including JPMorgan Chase & Co, Barclays Plc, HSBC Holdings Plc, Credit Suisse, Wells Fargo & Co and insurer Prudential Financial Inc, have shown interest in the app, which is expected to be valued at about $100 million, the source said.

https://www.nytimes.com/reuters/2018/09/19/business/19reuters-goldman-sachs-divestiture.html

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