← Embedded Finance Index 2026

Galileo

Also a provider — view Galileo’s profile →

“Can the card-issuing rails behind the last generation of neobanks reinvent themselves as a full-stack, multi-product bank platform (core + issuing + AI + risk) that competes with Marqeta, Fiserv and Q2?”

Founded2000
HQSalt Lake City, Utah, USA
FoundersClay Wilkes
Total raised$85M (pre-acquisition) + $1.2B acquisition by SoFi
Latest roundAcquired by SoFi Technologies (2020)
Valuation$1.2B acquisition price (2020)
IndustryInfrastructure / Card issuing
The story

Founded 2000 as a bootstrapped backend integrator for early digital financial services, Galileo became the card-issuing and account-processing backbone for a generation of neobanks — Chime, Robinhood, Monzo, TransferWise. Acquired by SoFi for $1.2B in 2020 but operated independently under the Galileo brand. In 2026 the parent completed the integration by rebranding the platform 'SoFi Technology Solutions,' pushing Galileo up-market to compete with Marqeta, Fiserv and the modern BaaS/core stack (Cyberbank Core, Konecta AI) across banks, fintechs and consumer brands.

Last 12 months
2025-03
2025
2026
Product timeline
2000
Founded by Clay Wilkes in Salt Lake City to provide backend integrations with financial institutions.· founding
2014
Raised first external funding — $8M Series A from Mercato Partners after 14 years of bootstrapped profitability.· funding
2019
Raised $77M Series A from Accel; already powering Chime, Robinhood, Monzo, TransferWise.· funding
2020
Acquired by SoFi Technologies for $1.2B in cash and stock.· acquisition
2023
Expanded Buy Now Pay Later offering for SMBs in partnership with Mastercard Installments.· lending
2025
Powered Wyndham Rewards Debit Card — first debit card from a major hospitality brand in the US.· card
2025
Named Best-in-Class in Javelin Strategy & Research's Digital Issuance Provider Scorecard.· recognition
2026
Rebranded from Galileo Financial Technologies to SoFi Technology Solutions (STS).· pivot
The stack
10 layers disclosed in Galileo’s embedded-finance stack
Payments / PSP
checkout
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Ledger
in the full report
Lending
in the full report
Open banking
in the full report
KYC
in the full report
FX & payouts
in the full report
Accounting gap: minor
19 more providers across 9 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.