View profile

All The Fintech - Clarity Sachs

April 17 · Issue #23 · View online
All The Fintech
It was just announced today that Goldman Sachs closed their acquisition of Clarity Money, one of the leading PFMs in the market. Rumors have the acquisition amount at ~$100MM, which at 1MM+ users equates to $100/mobile user (#fastmaths). If you had told me two years ago that Goldman would have a fully functional online-only depository product, a lending platform that’s competitive with any fintech loan, and a mobile-first PFM by 2018, I would have scoffed and said that there’s no way a bank could move that “quickly”. Yet through a series of partnerships, investments, and acquisitions, Goldman Sachs has positioned itself as the digital leader for consumer finance amongst all the bulge bracket banks. I expect a ton more acquisition activity in the next 2-3 years by the Citi’s, Chase’s, Bank of America’s of the world in order to be able to keep up. I think the most ironic aspect of this situation is that most of the larger banks were so worried about being disrupted from fintech startups, that many of them were caught by surprise by how quickly GS moved into the space.
Anyways, on to the articles and apologies for missing the last couple weeks, I’m currently typing this out while on a flight out to NYC to go to various events as part of Empire Fintech’s Conference (p.s. hit me up if you want to grab coffee during the week). 

The So What
Plaid: Fintech's Happy Plumbers
It’s Time For A Revolution – Confessions of a FinTech Junkie
Goldman Sachs Comes to the App Store
Welcome Balaji Srinivasan, Coinbase’s new Chief Technology Officer
Walmart is in advanced talks to acquire Amazon’s India rival Flipkart - Recode
Julie VerHage
Scoop crossing the terminal. @KabbageInc said to be acquiring @orchardplatform
China's Ant ups fundraising target, valuation could hit $150 billion
Zillow shares plunge on plan to start flipping homes, rival Opendoor
Keith Rabois
Oldest tactic in a incumbent playbook: Announce vapor ware in a press release when a better startup approach is finishing a financing round.
Did you enjoy this issue?
If you don't want these updates anymore, please unsubscribe here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Powered by Revue