Last October, Accel led a $77m Series A in Galileo. The startup was profitable and previously bootstrapped for 19 years. Sources familiar with the transaction say the transaction represents an impressive “4x” return for Accel.
“Galileo and SoFi will work together to accelerate the pace of technology innovation to offer Galileo’s partners, and subsequently consumers everywhere, even more value,” SoFi said in a statement. “These new functionalities and services will further help Galileo’s current and new partners capture the secular shift of financial transactions from the physical-only to a multi-channel digital and physical platform.”