Truist Financial is ending its partnership with the fintech GreenSky shortly after announcing a deal to buy another company that also specializes in point-of-sale lending.
Atlanta-based GreenSky disclosed the partnership’s demise on Wednesday, one day after Truist said it will pay $ 2 billion to acquire a Florida-based consumer lender. GreenSky said in a securities filing that it does not expect Truist’s decision to have a material impact on its profits.
“Demand for GreenSky program consumer loans from multiple funding sources remains high, cost of funds across funding sources remain low, and GreenSky continues to be poised for strong profitability,” the company said.
Loans for home improvement projects have been a focus for both GreenSky and Service Finance Co. Truist Financial has agreed to pay $ 2 billion to acquire the latter company and is ending its partnership with the former.
Read Also
- How much money must the buyer pay when signing a deposit contract? Jun 2, 2021
- Fairwinds Credit Union buying Citizens Bank of Florida Aug 19, 2021
- Toulouse: He takes the bus to Paris with 15,000 euros worth of smuggled cigarettes Nov 22, 2022
- Rodolfo Hernández’s wife bought two houses in the United States for almost a million dollars during the Vitalogic tender Jun 1, 2022
- Zettle in: PayPal adapts its European card reader for US market Jul 6, 2021
- Protect your business from the dangers of hacking Jul 15, 2021
- Lyon: A boss offers a house to one of his employees to make his “craziest dream” come true Nov 17, 2022
Bloomberg
GreenSky offers technology that merchants such as home contractors can use to offer installment loans to consumers. Those loans are often funded by GreenSky’s financial institution partners.