Goldman Sachs is acquiring fintech lender GreenSky for $2.24 billion as the investment bank pushes further into consumer finance.

The all-stock deal for GreenSky, called the biggest fintech platform for home improvement loans in a release announcing the transaction, is expected to close by the first quarter of 2022, the companies said on Wednesday. GreenSky shares jumped 53%.

Goldman CEO David Solomon released that Marcus has been “clear in its aspiration to be the consumer banking platform for the future”, and GreenSky’s acquisition will further this ambition. GreenSky’s talented team has created a cloud-native platform which will enable Marcus to connect with a wider range of customers and merchants.

Goldman will now be able to increase its presence in consumer finance. This is an opportunity not available for investors, traders, or wealth management. Goldman began in retail banking five years ago with its Marcus brand of loans, and has since added automated investing and personal finance, as well as partnerships with Apple, JetBlue and Amazon.

According to Goldman, the GreenSky agreement will increase its customer base as well as give it access the network of over 10,000 merchants that the fintech offers.

The bank, which once only served heads of states, corporate executives, and the super wealthy, will now offer installment loans for regular Americans who want to remodel their homes.

Like bigger competitors Affirm and Klarna, GreenSky sidesteps credit cards for big ticket purchases with loans that are repaid over weeks or months. The buy now, pay later trend in fintech has gotten red hot as of late, with Affirm going public in January, Square buying Afterpay for $29 billion and PayPal acquiring a Japanese player for $2.7 billion last week.  

GreenSky’s closing price on Tuesday was more than half that of the deal, but it also includes an adjustment for taxes at $446 million. GreenSky CEO David Zalik joins Goldman as a Partner.

Goldman had long been interested in this fintech company: According to Wall Street Journal, preliminary discussions were held two years ago with the bank about purchasing GreenSky.

In the release, Zalik stated that “In conjunction with Goldman Sachs we’re excited continue delivering innovative points-of-sale payments solutions for our merchant partner and their customers on a speedy basis.”