Is Sofi acquiring Galileo Financial Technologies (Galileo)?

SoFi, the online personal finance company, today announced it has signed a definitive agreement to acquire Galileo Financial Technologies (“Galileo”), the powerful financial services API and payments platform. SoFi will pay total purchase consideration of $1.2B to acquire Galileo, comprising cash and stock.

What is Galileo Financial Technologies' Buy Now Pay Later offering?

Galileo Financial technologies, a fintech company owned by SoFi Technologies ( NASDAQ: SOFI ), is expanding its Buy Now, Pay Later offering to enable banks and fintechs to offer cardholders post-purchase installment payment options through their debit or credit card account, it said on Tuesday.

What does Galileo's new credit card offering mean for banks & FinTechs?

“This new offering bridges the gap between cards and loans and allows banks and fintechs to establish and deepen customer relationships with innovative, flexible financing options for both credit and debit customers,” said David Feuer, chief product officer at Galileo.