SoFi acquires UK fintech PrimaryBid to expand retail access in capital markets.

SoFi Technologies has acquired the assets of PrimaryBid, a UK-based fintech that enables retail investors to participate in global capital markets. PrimaryBid, known for aggregating retail orders into single blocks, gained prominence during the COVID-19 pandemic but faced challenges due to a slump in London IPOs. The acquisition ends PrimaryBid's independent status and integrates its technology into SoFi's platform, enhancing SoFi's ability to offer inclusive equity programs in the U.S. This move follows their existing partnership and aligns with SoFi's strategy to deepen member engagement through multi-product financial services.