Goldman Sachs loves investing in “unloved” fintech firms
"We are not uniquely seduced by the trendier parts of fintech," says the head of the Wall Street bank's unit that invests in tech startups.
- Goldman Sachs, in addition to running one of the world's storied investment banks, is also an avid investor in financial startups.
- The Wall Street bank's Principal Strategic Investments Group (PSI) bought stakes this year in Nav, a startup that provides credit score information for small businesses, and robo-investor Nutmeg.
- "We are not uniquely seduced by the trendier parts of fintech," said Rana Yared, 35, a partner at the bank who runs PSI's New York and London teams.
- Other banks including Citigroup, Credit Suisse, JPMorgan, Goldman Sachs, UBS, and RBS have also invested in Tradeweb.
- Its new unit will provide merchants with a set of payment services (paywall) like digital wallets, credit cards, and direct transfers to bank accounts.