Goldman Sachs’ consumer bank Marcus is branching out into stocks and shares with the help of Nutmeg

Marcus, Goldman Sachs’ consumer bank, is launching a new stocks and shares individual savings account (ISA), powered by Nutmeg, the UK-based digital wealth manager.

While neither of the parties revealed when the ISA would be available, the Telegraph reported that they are expected to launch the Marcus service some time in 2019.

Nutmeg was launched in 2011 and has since attracted $153.6m in funding in total. For instance, the London company raised two rounds in 2016, first £30m in November and then £12m in December.

More recently, it announced a £45m Series E investment in January 2019 from no other than the investment bank Goldman Sachs.

The scaleup’s success comes form the having been able to provide customers with an easy way to pick their investment portfolio through the Nutmeg app, enabling would-be investors to discern how risky bets they would like to take.

The new Marcus product would reportedly be able to tap invest in the same funds. However, it is unclear whether the deals clients using the Marcus solution would get a greater deal than if they would have used Nutmeg from the get-go and avoided the middleman.

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