# Galileo Financial Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/galileo-financial-technologies

- Industry: Financial Services
- Headquarters: Salt Lake City, US
- Website: www.galileo-ft.com
- Total disclosed funding: $77M
- Latest round: Series A (Oct 17, 2019)
- Investors on record: 1

## About

Galileo Financial Technologies specializes in providing innovative financial technology solutions, including payment processing and card issuing services, empowering banks and fintechs to deliver modern financial experiences.Galileo Financial Technologies operates a cloud-native platform that facilitates card issuing and payment processing. Founded in 2000 in Salt Lake City, US, the company experienced significant growth and was acquired by Social Finance, Inc. in April 2020 for USD 1.2 billion from Accel. The CEO, Derek White, has a notable background in financial services, enhancing the company's leadership with substantial industry experience. The company has completed 2 notable deals, with the most recent taking place in April 2020.Galileo Financial Technologies offers a comprehensive suite of financial products and services designed to empower banks, fintechs, and brands in delivering modern financial experiences. Their core offerings include a cloud-native platform that features secure and scalable APIs for card issuing, payment processing, lending, and risk management. By facilitating the issuance of physical, virtual, and digital-first cards, Galileo enhances cardholder activation and retention. The platform supports seamless transactional experiences for money transfers and payment processing, thus addressing the complex needs of consumers and businesses alike, particularly around adaptable credit and lending solutions. Galileo serves clients across North and South America, enabling a diverse customer base that includes financial institutions and fintech innovators, all striving to meet the evolving financial needs of their users.Galileo Financial Technologies generates revenue through a multi-faceted transactional structure that encompasses partnerships with issuing banks, which allow it to provide a variety of banking services. The revenue model includes subscription fees for access to its technology platform and transaction-based fees derived from the services provided, such as card issuance and payment processing. For instance, a financial institution utilizing Galileo’s services may subscribe to their platform for a recurring fee while also incurring transaction fees each time a payment is processed or a card is issued. This structure effectively supports both B2B relationships with fintech and banking clients as well as direct interactions with consumers who utilize the financial products enabled by Galileo’s technology. Key offerings, such as their award-winning digital issuance capabilities, solidify their position as a leading provider in the digital finance ecosystem.Following their acquisition in April 2020, Galileo Financial Technologies plans to leverage the USD 1.2 billion investment to enhance its technology platform and expand its product offerings. The company is focused on launching new financial products aimed at improving digital payment solutions and expanding its reach into additional markets across North America and South America. This includes targeted expansions into underserved regions, leveraging recent funding to accelerate growth initiatives. The company is poised to enhance its capabilities in card issuing and payment processing, further solidifying its position in the financial technology sector.

## Funding rounds

- Series A, Oct 17, 2019, $77M — Accel

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Series A