After being acquired by SoFi, Galileo’s Clay Wilkes looks out to a busy future
- Banking and payments as a service platform,Galileo was recently acquired by SoFi for $1.2 billion.
- Now, it's growing globally as fintech startups and companies in unrelated industries want to launch financial products.
One of the most exciting stories of this generation of fintech firms is Galileo. Recently acquired by SoFi for $1.2 billion, Galileo now provides the payments and banking backbone via APIs to many of the top names in the game, like Chime, TransferWise, Robinhood and Bluevine. Firms like these use Galileo to open accounts and issue cards.
Clay Wilkes founded Galileo 20 years ago and continues to lead the company today. He joins us on the podcast today to talk about why his firm is seeing so much interest from companies across industries that want to launch financial products. Clay describes Galileo’s genesis story and what the early opportunities were for the problems he was attempting to solve. He describes the evolution of the platform as financial services have evolved. Clay dives into the use cases for his customers and lastly, he talks about the product and corporate strategy pipeline he’s got lined up for the near future.
20 years in the making
It’s been a journey. We began with the goal to transform the enablement of financial services. It’s interesting to look at the evolution of financial services generally — starting with credit, then debit, and everything else that came after. That third bucket is the world we plugged in to. Digital banking and fintech really emerged out of that. Galileo was in a prime position to take advantage of that.
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