Galileo Technology
Financial technology platform for banking and payments.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
$4.5m | Series A | ||
| Total Funding | 000k | ||
Galileo Financial Technologies, LLC is a financial technology company that provides a comprehensive, API-driven payment processing platform. It enables clients to create and manage a wide range of financial solutions, including debit, credit, and prepaid card programs, as well as digital banking functionalities. The company serves a diverse client base that includes neobanks, fintech startups, established B2B businesses, and non-financial brands. Its business model focuses on generating revenue through platform usage fees, transaction fees, and value-added services such as fraud management, compliance support, and data analytics.
Founded on January 23, 2001, by Clay Wilkes, Galileo started with a vision to modernize payments infrastructure. Wilkes, who had previously taken a VoIP company public, bootstrapped Galileo to profitability for most of its existence before taking its first institutional funding in 2019. A significant milestone occurred in 2020 when SoFi acquired Galileo for $1.2 billion, though it continues to operate as an independent division. In 2021, Derek White, a former Google executive, became the new CEO. The company expanded its capabilities further with the acquisition of digital banking platform Technisys in 2022. Galileo's platform is utilized by prominent fintech companies such as Chime, Robinhood, Varo, and Monzo.
The company's core offering is a cloud-native platform that provides the building blocks for creating financial solutions. This includes issuing physical and virtual cards, processing payments, and managing accounts through a modern ledger system. The platform's open APIs and sandbox environment allow developers to experiment and integrate services efficiently. Galileo also offers advanced tools for payment risk management and fraud detection to ensure secure transactions.
Keywords: payment processing, API platform, card issuing, digital banking, fintech infrastructure, embedded finance, core banking, fraud management, payment solutions, neobanks, financial technology, B2B financial services, payment risk management, digital wallets, transaction processing, open banking, compliance solutions, ledger technology, white label payments
