Goldman Sachs buys startup app Clarity Money

Goldman Sachs buys startup app Clarity Money

Mubasher: Goldman Sachs Group announced that it has bought Clarity Money, a free application that enables its users to manage their personal finances.

The acquisition aims at enhancing Goldman Sachs Group’s Marcus brand, an online lending business.

Since 2016, the US-based bank started making online personal loans and has originated over $2.5 billion, it said in a statement

“Clarity Money’s roughly one million users will quadruple Goldman’s customer base,” according to Marketwatch.

The deal completed on Friday, 13 April will also see around two dozen Clarity Money employees join the bank, Goldman Sachs added.

The bank did not give further details concerning the total cost of the acquisition.