SoFi Acquires Galileo Financial Technologies
April 7, 2020
SoFi (Social Finance, Inc.) agreed to acquire Galileo Financial Technologies for $1.2 billion in cash and stock. The purchase adds Galileo's payments and banking API platform to SoFi's technology stack to expand its product capabilities and distribution to Galileo partners; Galileo will operate as an independent SoFi subsidiary.
- Buyers
- SoFi (Social Finance, Inc.)
- Targets
- Galileo Financial Technologies
- Sellers
- Mercato Partners (Traverse Fund)
- Industry
- Payments & Fintech
- Location
- Utah, United States
- Transaction Type
- Buyout
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