Already profitable Galileo crosses $26B of annual processing volume in September as global growth accelerates.
Salt Lake City, October 17, 2019 - Galileo, the company whose APIs power the next generation of banking products globally, announced its first institutional funding round today—a $77 million investment led by venture capital firm Accel with participation from Qualtrics Co-Founder & CEO Ryan Smith.
The company, which is already profitable and growing rapidly, plans to use the funds to accelerate growth, including expansion into Latin America, the UK and Europe, and for continued product expansion. Many of the most discerning tech companies globally—including Robinhood, Monzo, Revolut, Transferwise, Varo and many others—trust Galileo’s APIs to open and verify new financial accounts, issue and process payment cards, and launch new products.
Whether an account is accessed via debit, credit, prepaid or mobile, with Galileo all fintech products are integrated on one API platform. Galileo Founder & CEO Clay Wilkes said, “Over the years, we’ve built the API standard for card issuing programs and fintech innovation, focusing on a feature-rich product set, profitability and delighting our clients. This funding will help us double down on these themes, while also becoming more aggressive in expanding geographically and providing the building blocks for the world’s most innovative payments programs. We’re thrilled to be working with Accel and Ryan Smith.”
As of September 2019, Galileo manages over $26B in annual payments volume, a 130 percent increase over September 2018. Galileo’s APIs are used widely throughout the neobank, payments, gig economy, investing and SaaS market segments.
Accel Partner John Locke, who is joining the Galileo Board of Directors as part of the investment, said, “We’re in a golden era of fintech innovation and Galileo has quietly built the API infrastructure layer powering the industry’s most innovative products. Clay and his team have built a very impressive business with many parallels to companies like Qualtrics and Atlassian: bootstrapping first to build a quiet, profitable powerhouse and now, ready to go big globally. We’re excited to help Clay and team take Galileo to the next level.”
With more services in the pipeline and an aggressive roadmap for adding new platform features, Galileo continues to enable its clients to challenge the status quo in payments.
O Impulso da Primavera: Novo Índice de Gastos com Débito da Galileo Mostra os Gastos do 1º Trimestre e as Perspectivas para o Ano
Os consumidores americanos gastaram com cautela no débito durante janeiro e início de fevereiro, antes que as restituições de impostos antecipadas e o clima de primavera desencadeassem um aumento de gastos em março, de acordo com o Índice de Gastos com Cartão de Débito da Galileo (Galileo Debit Spend Index) inaugural.
Executivos de marcas temem perder clientes para concorrentes com ferramentas financeiras integradas em aplicativos, aponta pesquisa da Galileo
Metade dos consumidores escolheu uma marca em vez de outra porque pagar ou receber um reembolso era mais fácil
Apresentando a SoFi Tech Solutions: uma marca unificada criada para impulsionar a inovação financeira de ponta a ponta
Estamos evoluindo de Galileo para SoFi Tech Solutions para refletir todo o alcance da nossa plataforma. Oferecemos infraestrutura de ponta a ponta para fintechs, marcas e instituições financeiras, agora com o suporte da escala e dos recursos da SoFi. Nossa missão permanece a mesma: apoiar o crescimento dos nossos clientes, mantendo a neutralidade da plataforma e a proteção rigorosa dos dados.
Galileo Financial Technologies permite que a SoFi envie e receba pagamentos via FedNow Service
SoFi habilita pagos instantáneos 24/7 con FedNow®, permitiendo enviar y recibir dinero en segundos mediante la plataforma de Galileo.
Seu programa de fidelidade pode estar ignorando seus melhores clientes
Por décadas, a maioria dos programas de fidelidade foi construída em torno de cartões de crédito. Esse alinhamento fazia sentido em um momento em que o crédito rotativo era a principal forma de estruturar lealdade e recompensas. Mas o comportamento de pagamento dos consumidores mudou, e a Geração Z está tornando essa mudança ainda mais evidente.
