SoFi acquires PrimaryBid assets to expand retail investing platform

By Parth Prabhudesai

SoFi Technologies has acquired the assets of UK-based FinTech PrimaryBid, strengthening its push into retail investor participation and capital markets infrastructure.

The acquisition specifically covers the assets of PrimaryBid’s directed share programme, although financial terms of the transaction were not disclosed.

Founded in 2016, PrimaryBid built its business around enabling retail investors to participate in public market offerings by aggregating orders into a single block. The company gained visibility during the COVID-19 pandemic, when emergency fundraising rounds highlighted growing demand for broader investor inclusion in equity offerings.

PrimaryBid had raised $190 million in a Series C funding round in 2022 and counted the London Stock Exchange Group among its backers. However, the prolonged slowdown in the UK IPO market impacted the company’s growth trajectory in recent years.

The two firms already had an existing relationship. In October 2024, SoFi and PrimaryBid partnered to launch DSP2.0, a directed share platform designed to support equity programme management for companies raising capital in the United States.

The deal aligns with SoFi’s broader strategy of expanding its integrated financial services ecosystem. During its first-quarter 2026 earnings call, the company highlighted continued growth in member acquisition, product adoption and cross-platform engagement. SoFi added 1.1 million new members during the quarter.

Anthony Noto, Chief Executive Officer of SoFi Technologies, said: “Our platform strategy clearly demonstrates the effectiveness of our Everything Financial Services app strategy and our ability to build deeper multiproduct relationships with members.”

Anand Sambasivan, Chief Executive Officer and Co-Founder of PrimaryBid, said the platform helps companies make equity and debt offerings “more inclusive” by strengthening engagement with retail investors and stakeholders.

The acquisition also marks the end of PrimaryBid’s independent operations as its assets are integrated into SoFi’s growing platform business.