SoFi Buys PrimaryBid Tech Assets; UK Platform to Liquidate

SoFi Technologies has acquired the technology assets of UK retail investor platform PrimaryBid for an undisclosed sum. PrimaryBid confirmed the sale in a brief statement and told investors it plans to return an undisclosed amount of capital. Terms of the transaction were not released.

The US fintech will take on most of PrimaryBid’s platform technology and related intellectual property. The acquisition covers assets only and does not include PrimaryBid’s full corporate liabilities. PrimaryBid’s directors will place the remaining parts of the business into a form of liquidation and oversee the winding-down process.

PrimaryBid launched to give retail investors access to primary market share allocations. The company grew quickly during the pandemic-era retail trading boom and was valued at more than $500 million in 2022. A decline in equity market activity in subsequent years reduced transaction volumes and revenue.

In 2025 a shareholder, London Stock Exchange Group, wrote down its 7.2% stake, valuing PrimaryBid at about $56 million. The company then sought buyers for parts or all of the business. An Australian stock transfer agency expressed interest but did not complete a deal.

PrimaryBid’s brief communication did not specify the amount of capital to be returned or the timetable for liquidation. The company said it will provide further details to investors and creditors as the asset transfer and winding-down plan proceed.

The transaction moves PrimaryBid’s platform technology into the ownership of a US-listed fintech that offers banking, lending and investing services. PrimaryBid and SoFi have not disclosed the financial terms of the asset sale.