SoFi Technologies has acquired the assets of PrimaryBid, a United Kingdom-based fintech company that powers retail inclusion in global capital markets, according to a message posted on PrimaryBid’s website and confirmed by a SoFi spokesperson. The acquisition specifically covers the assets of PrimaryBid’s directed share program. Financial terms were not disclosed.
Founded in 2016, PrimaryBid was built to aggregate orders from retail investors into a single block, gaining prominence during the COVID pandemic when a wave of emergency capital raisings highlighted the need for more inclusive participation in public offerings. The company raised $190 million in a Series C round in February 2022 and attracted backing from the London Stock Exchange Group, which subsequently wrote down its 7.2% stake in the company by 87% amid a prolonged slump in the London IPO market. The two companies already had a partnership in place — SoFi announced in October 2024 a collaboration with PrimaryBid to launch a Directed Share Platform called DSP2.0 to facilitate equity program management for companies raising capital in the United States.
The acquisition ends PrimaryBid’s independent status and brings most of its assets into SoFi’s expanding financial services platform. The deal builds on SoFi’s broader platform strategy, which the company said in its first quarter 2026 earnings call resulted in member growth, product adoption, and cross-selling that deepens engagement across its ecosystem. SoFi added 1.1 million members in the first quarter of 2026.
KEY QUOTES:
“Our platform strategy clearly demonstrates the effectiveness of our Everything Financial Services app strategy and our ability to build deeper multiproduct relationships with members, which in turn will drive a higher lifetime value.”
Anthony Noto, CEO, SoFi Technologies
“Our platform deepens the relationships public companies have with their stakeholders and helps them make their equity and debt offerings more inclusive.”
Anand Sambasivan, CEO and Co-Founder, PrimaryBid
