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.
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SoFi acquiring Galileo in $1.2b deal, resulting in a ‘4x’ return for investor Accel
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“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.”
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