Founded by Clay Wilkes in 2000, Galileo runs the backend integrations between fintechs and financial institutions, supporting account creation, authorizations, fraud monitoring, disputes, direct deposit and credit products via its API. The company powers many large fintech customers, including Chime, Robinhood, Monzo and TransferWise, and already dominates parts of the U.K. market where the top five fintechs are clients. Galileo processes nearly $26 billion in financing annually by the end of the year and has been profitable for years after a bootstrapped start. Its pricing model charges a variable fee of a few cents per transaction rather than a fixed percentage. The company is Salt Lake City–based and has built a stable, revenue-generating business before taking outside capital. Management says it will use new capital to expand geographically, actively pursuing opportunities in Brazil, Colombia and Argentina and planning an office in Mexico City.

Total raised

$77M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2019