We’re excited to announce today that we’ve signed an agreement to acquire Galileo Financial Technologies, the powerful API and payments platform that powers not only our SoFi Checking and Savings product, but numerous other innovative fintech payment offerings all over the world.
Since we started nearly a decade ago with a single student-loan-refinance platform, SoFi has grown to offer a full array of financial products to advance our mission to help our members get their money right. That’s why one of the many reasons we’re thrilled to add the Galileo team is that it gives us the ability to better serve our members through their best-in-class API technology, furthering our goal to provide 24/7 access to critical financial services. Additionally, Galileo’s wide penetration, underpinning the global fintech space, places us in a critical role in reinventing and optimizing how digital finance is done today.
But most importantly, the world is changing rapidly and we want to partner with those that could change with it—even if that means challenging centuries-old financial services convention. We’ve found that in Galileo, and we look forward to working with them to bring our members the very best in financial services technology.
The day-to-day user experience for our members won’t change, as Galileo will continue to operate independently, but all members will benefit from the improvements to SoFi’s economics and infrastructure. If you’d like to read more about our acquisition of Galileo, please see our press release here.
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