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Another major fintech exit as SoFi acquires banking and payments platform Galileo for $1.2B

The fintech wars continue to heat up with another major exit in the space.
Consumer financial services platform SoFi announced today that it is acquiring payments and bank account infrastructure company Galileo for $1.2 billion in total cash and stock. The acquisition is dependent on customary closing conditions.
Salt Lake City-based Galileo was founded in 2000 by Clay Wilkes and was bootstrapped to profitability over the intervening two decades. My colleague Jon Shieber wrote a profile of Galileo back in November after the company announced its first round of external funding, a $77 million Series A check from Accel, which was led by …

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