PrimaryBid

PrimaryBid operated a technology platform that gave individual (retail) investors access to primary equity and debt offerings in public markets, including initial public offerings and follow-on fundraisings by already-listed companies. The platform aggregated orders from many small investors into a single block that could be placed alongside institutional demand, allowing issuers to include retail participants at the same price and on the same timetable as professional investors. Alongside IPOs and secondary raises, the company added products including retail bond offerings, participation in SPAC-based listings, and a "Community IPO" capability for corporate issuers, plus a directed share program used with regulated financial institutions.

The platform was distributed through interoperating brokerages and investment apps — around 60 such channels as of early 2022 — reached via APIs rather than by acquiring end investors directly. PrimaryBid facilitated retail participation in transactions including the 2021 London IPOs of Deliveroo and PensionBee and the US IPO of Membership Collective Group (Soho House), where UK members took part via a UK share sale. Business-to-consumer issuers accounted for roughly 10% of the transactions the company worked on, with the balance from other types of issuer.

PrimaryBid's technology was acquired by SoFi Technologies Inc in May 2026, with SoFi confirming it had acquired the assets of PrimaryBid's directed share program; the remainder of the business was wound down and PrimaryBid Limited entered Members' Voluntary Liquidation on 30 June 2026.

Founding story

The company was founded in 2015 by Anand Sambasivan and Kieran D'Silva in London; one later account gives a founding year of 2016. Sambasivan, who served as CEO, framed the aim as bringing the "public" back into public offerings, arguing that if public markets were designed today they would interoperate with APIs and mobile apps.

Business model

PrimaryBid provided capital-markets infrastructure to issuers and their advisers, and to regulated financial institutions, enabling retail investor participation in equity and debt offerings. Distribution ran through partner brokers, investment apps and exchanges (around 60 interoperating channels in early 2022) that connected to PrimaryBid's platform via APIs, rather than through a standalone retail brokerage relationship.

Traction

More than 150 IPO and follow-on transactions were listed on the UK platform in the 18 months preceding February 2022, with about 60 interoperating investment channels and roughly 200 employees at that time. Notable transactions included the Deliveroo and PensionBee IPOs (2021) and the Membership Collective Group (Soho House) US IPO with a UK retail component (2021). Reported total funding raised was $252 million.

Latest developments

On 8 May 2026 PrimaryBid announced that its technology had been acquired by SoFi Technologies Inc, a US-listed financial services company; a SoFi spokesperson confirmed the acquisition of the assets of PrimaryBid's directed share program, and reporting indicated SoFi took the technology stack while the rest of the business wound down. Deal terms were not disclosed. On 30 June 2026, as part of an orderly solvent wind-down, PrimaryBid Limited entered Members' Voluntary Liquidation, with Terence Guy Jackson and James Hawksworth of RSM UK Restructuring Advisory LLP appointed Joint Liquidators. The company continues to publish guidance for historical UK retail investors who received shares in the 2021 Deliveroo, PensionBee and Membership Collective Group (Soho House) offerings.