Goldman Sachs, which considers itself a “tech company” is buying Honest Dollar, an Austin, Texas, company that sells retirement plans consisting of low-cost exchange-traded funds to small companies. This has been a very active year for HonestDollar which just launched in 2015 and raised $3 million in seed financing.
“We set out with a singular focus: to revolutionize the retirement industry and reach individuals who historically have been underserved,” said William Hurley, CEO of Honest Dollar. “We look forward to being part of Goldman Sachs as we drive innovation across this space together.”
This is one of many moves Goldman has made to make itself a tech company. Last year Goldman hired former Discover Financial Services executive Harit Talwar to lead an expansion into online lending. It is also expanding its own tech team and hosting hackathons.
Reference:
http://www.efinancialnews.com/story/2016-03-15/goldman-sachs-buys-online-retirement-benefits-business
http://www.businessinsider.com/goldman-sachs-bought-honest-dollar-2016-3
http://www.businesswire.com/news/home/20160314005749/en/Goldman-Sachs-Investment-Management-Division-Acquire-Honest
#fintech #lending #payments
