SoFi Expands Capital-Markets Capabilities Through PrimaryBid Acquisition
May 15, 2026 (18 hr ago)
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SoFi Technologies has acquired key assets from UK-based fintech PrimaryBid, marking a strategic expansion into capital-markets services and enhancing retail access to new investment offerings.
PrimaryBid Strategic Acquisition
- SoFi has acquired the majority of assets from UK-based fintech PrimaryBid, including its directed share program technology.2
- This integration allows SoFi to expand its capital-markets capabilities and provide its members with broader retail access to new financial offerings.3
- The acquisition serves as a new tool in SoFi’s "super app" strategy, moving beyond traditional lending and banking services.3
Q1 2026 Financial Performance
- SoFi reported strong first-quarter results, with revenue reaching $1.10 billion and GAAP net income rising to $166.73 million.1
- Loan originations for the quarter totaled $12.18 billion, representing a 68% increase.1
- The company maintains a positive growth outlook, projecting approximately 30% revenue growth and $0.60 in adjusted EPS for the full year 2026.1
Future Growth Initiatives
- Management is focusing on long-term expansion through the relaunch of the SoFi Plus subscription service.3
- The company is also developing a bank-issued stablecoin project to further integrate cryptocurrency into its financial ecosystem.3
- Cross-selling remains a core component of the company's strategy, with 43% of new products currently being adopted by existing members.1
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