In this Wharton Fintech exclusive, Wharton MBA candidate Miguel Armaza and recent MBA graduate Guillermo Gonzalez went behind the scenes with SoFi’s Anthony Noto and Galileo’s Clay Wilkes to explore what the Wharton team describes as “one of the most transformational acquisitions in the fintech space to date”—the recent transaction in which SoFi acquired Galileo for the total sum of $1.2 billion.
To get to the heart of the strategy that drove the union, Miguel and Guillermo asked what prompted SoFi to consider Galileo as a crucial strategic alternative and explored the challenges of executing a landmark transaction during a global pandemic.
They also dove down on what the future holds for SoFi and Galileo, including product plans that leverage the companies’ unique strengths and capabilities, and plans for international expansion.
A key message emerging from the conversation is Anthony and Clay’s mutual belief in the mission of advancing financial independence and inclusion, which has guided the decision to keep both companies independent, opening the door for far-reaching, industry-wide collaborations.
Tune into the full conversation by clicking here.
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