SoFi to Acquire Galileo Financial Technologies in $1.2 Billion Deal

SoFi has announced their plans to acquire Galileo Financial Technologies for $1.2 billion in cash and stock; Galileo allows companies to offer a variety of financial services to both consumers and small businesses; SoFi is a current customer of Galileo but other customers include Chime, Robinhood, Transferwise and Varo Money; the news seems like a play for SoFi to access new customers who currently partner with Galileo; Galileo will continue to operate as a standalone business with Clay Wilkes, the current CEO remaining in charge. Lend Academy

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