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GreenSky operates a platform that facilitates loans for big-ticket items, enabling brands to offer installment loans to customers at the point of sale, thereby increasing sales and conversions for its clients. GreenSky then sells off those loans to a number of banks and other lending partners. The deal could be seen as a way for Goldman to buy its way into the “buy now, pay later” trend, offering Marcus users additional ways to finance their purchases.
But according to Stephanie Cohen, the global co-head of Consumer & Wealth Management at Goldman Sachs, the acquisition is as much about bringing GreenSky’s customers into the Marcus ecosystem. She also believes that by bringing GreenSky into Goldman Sachs and lending off its balance sheet, there’s no limit to the scale at which it can grow.
