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Goldman Sachs buys start-up Clarity Money



NEW YORK (Reuters) – Goldman Sachs Group Inc has bought Clarity Money, a private finance startup to strengthen Marcus' online lending business, said Sunday.

A sign by Goldman Sachs will be displayed on April 18, 2017 at the New York Stock Exchange (NYSE) floor in New York, USA. REUTERS / Brendan McDermid

Buy Clarity Money, a free app that helps clients manage their personal finances. It is expected to add over one million customers to the financial services company's Marcus business. Marcus offers tools that help customers save and rent. Clarity Money will be renamed Marcus of Goldman Sachs over time, the company said.

Conditions were not disclosed.

Goldman launched Marcus in October 201

6 to denounce main-street borrowers saddling with credit card debt. It offers loans ranging from $ 3,500 to $ 40,000 and is aimed at credit card borrowers who can benefit from consolidating debt into a single loan with a lower interest rate.

GS Bank, a subsidiary of Goldman Sachs, is taking over. Clarity Money CEO Adam Dell will join Goldman Sachs as a partner.

(This version of the story corrected in paragraph 4, to say that Marcus offers loans up to $ 40,000 and not $ 30,000)

Report by Jessica Resnick-Ault; Arrangement by Nick Zieminski


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