Galileo’s $77 million Series A round, led by Accel, was recognized as the second largest payments deal in North America during Q4 2019, according to Electronic Payments International. Only HMS’s $155 million acquisition of Accent ranked higher.
Thirty-one deals, valued at $550.31 million were announced for the region during Q4 2019, against the last four-quarter average of 39 deals. Seventy-four percent of the overall value of industry deals occurred during Q4.
Click here for more on Q4 19 investment in the North American payment sector.
Southwest and Galileo Bring Rewards to Debit’s Doorstep
Galileo’s platform integrates issuing, processing, and program management so non-financial brands like Southwest can launch co-branded cards faster. The economics of debit rewards differ from credit, but Galileo CFO Bill Kennedy said technology efficiencies and deeper loyalty make the model sustainable.
United Airlines Launches MileagePlus Debit Rewards Card that Earns Miles for Spending and Saving
This new card allows MileagePlus members to earn miles through everyday purchases and qualifying account balances. Available now with no monthly fees with an average daily account balance of $2,000 or greater, MileagePlus members can open the debit rewards card at UnitedDebitRewards.com
Southwest Airlines, powered by Galileo (SoFi’s tech platform), has launched the Rapid Rewards Debit Card
Southwest Airlines, powered by Galileo (SoFi’s tech platform), has launched the Rapid Rewards Debit Card, letting debit-first customers earn points on everyday purchases to redeem against flights.
Engagement, New Partnerships Drive Growth for SoFi Tech Platform in Q3
SoFi's Technology Platform generated $114.6 million in Q3 2025 revenue while announcing a major partnership with Southwest Airlines to power their Rapid Rewards debit card program.
Swipe, Earn, and Fly With Southwest Airlines’ New Rapid Rewards Debit Card
Calling all budget-savvy travelers: Sign up to receive a welcome bonus and start earning points on everyday spending
