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- PrimaryBid
PrimaryBid Acquisition, Valuation, Funding & Investors
PrimaryBid was acquired by SoFi in May 2026.
Cumulative funding PrimaryBid raised
$252M
across 5 funding rounds
Key investors in PrimaryBid
Outward VC
Pentech Ventures
Molten Ventures
OMERS Ventures
Salica Investments
ABN AMRO Ventures
Fidelity International Strategic Ventures
London Stock Exchange Group
About PrimaryBid
PrimaryBid is a London platform connecting retail investors to UK IPOs and follow-on offerings. Partnered with the London Stock Exchange since 2018, it enables allocations at institutional prices for companies like Aston Martin and Moonpig. The service has facilitated over 100 million pounds in retail participation across 150 placings.
Founded
2012
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Commission
Valuation
$690M (Feb 2022)
PrimaryBid Acquisition
PrimaryBid was acquired by SoFi for an undisclosed price on 7 May 2026.
Before the acquisition PrimaryBid had raised $252M across 5 funding rounds.
SoFi Technologies Inc acquired the majority of assets from PrimaryBid, a UK-based fintech, on May 11-13, 2026. The deal structure involves an asset acquisition with the purchase price undisclosed, resulting in the cessation of PrimaryBid's independent operations and enabling a partial return of capital to investors. The acquisition expands SoFi's reach into global capital markets access and enhances its market position through PrimaryBid's UK retail investing platform. It supports SoFi's growth strategy amid analyst concerns on valuation and short seller claims. PrimaryBid operated as a UK retail investing platform focused on fintech services. No financial metrics, KPIs, employee count, or operational scale disclosed.
| Acquirer | Date | Type |
|---|---|---|
| 7 May 2026 | Strategic M&A |
PrimaryBid Valuation
PrimaryBid is currently valued at $690M, based on its Series C in February 2022.
The $190M round was led by SoftBank Group, with participation from London Stock Exchange Group, ABN AMRO Ventures, Pentech Ventures, Fidelity International Strategic Ventures, Molten Ventures and 4 other investors.
PrimaryBid valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Series C | $690M |
PrimaryBid Funding History
PrimaryBid has raised a total of $252M across 5 funding rounds.
PrimaryBid's first fundraising round was a $700K pre-seed round in March 2016. The most recent completed round was a $190M Series C in February 2022.
PrimaryBid funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Series C | SoftBank Group (lead); London Stock Exchange Group; ABN AMRO Ventures; Pentech Ventures; Fidelity International Strategic Ventures; Molten Ventures; OMERS Ventures; Hedosophia; Salica Investments; Outward VC | $190M | $690M | PrimaryBid is a UK-based FinTech platform that enables retail investors to access public market offerings like IPOs and follow-on raises, previously reserved for institutions, by combining technology, data, and advocacy to make equity and debt issuances more inclusive. The company closed a $190 million Series C funding round on February 20, 2022, led by SoftBank Vision Fund 2, with participation from existing investors including ABN AMRO Ventures, Fidelity International Strategic Ventures, Hedosophia, London Stock Exchange Group, Molten Ventures, OMERS Ventures, Outward VC, Pentech Ventures, and others. This followed a $50 million Series B in October 2020 backed by many of the same investors. Funds are earmarked for international expansion, particularly continental Europe via partnerships with ABN AMRO and Euronext, and entry into the US market, alongside hiring senior executives and enhancing product offerings. PrimaryBid demonstrated strong traction prior to the round, facilitating over 150 IPO and follow-on transactions on its UK platform in the 18 months leading up to February 2022, amid rising retail investor interest. The platform positions itself to deepen public companies' stakeholder relationships and upgrade outdated public market systems with APIs and mobile access. SoftBank highlighted PrimaryBid's 'ecosystem friendly' approach and Community IPO platform as key to widening participation. The company also appointed Sir Donald Brydon as chair in late 2021. |
| Oct 2020 | Series B | London Stock Exchange Group; ABN AMRO Ventures; Pentech Ventures; Fidelity International Strategic Ventures; Molten Ventures; OMERS Ventures; Outward VC | $50M | - | PrimaryBid is a UK-based technology platform that enables retail investors to participate on equal terms with institutional investors in new share issuances by public companies, facilitating capital raises. In October 2020, it raised $50 million in a Series B funding round led by strategic investors including London Stock Exchange Group, Fidelity International Strategic Ventures, ABN AMRO Ventures, OMERS Ventures, and Molten Ventures (then Draper Esprit), alongside prior backers Pentech Ventures and Outward VC. The round followed a surge in activity during COVID-19, where PrimaryBid supported 41 capital raising efforts for UK-listed companies and trusts since April 2020, demonstrating the platform's role in efficient recapitalization. This followed a Series A of $8.6 million in September 2019. Molten Ventures invested £5.4 million in the round, with £3.1 million paid post-year-end and an additional £4.0 million from EIS/VCT funds. PrimaryBid planned to use the proceeds to hire talent, enhance its technology platform, expand partnerships, and pursue international growth. The platform gained traction as a key part of the UK's capital raising ecosystem, with strong responses from boards and advisors for its digital retail inclusion solution. |
| Sep 2019 | Series A | Outward VC (lead); Pentech Ventures (lead); Salica Investments | $9M | - | PrimaryBid is a UK-regulated platform that connects publicly listed companies with retail investors, enabling participation in discounted share issuances on the same terms as institutional investors. The company raised a £7 million ($8.6M) Series A funding round on September 7, 2019, led by Pentech Ventures and Outward VC, with participation from new and existing investors including Salica and Lombard Odier. Craig Anderson from Pentech joined the board, and Outward VC received a board observer seat. PrimaryBid had previously raised $3M and sourced over £65 million across 48 transactions by 2019. The funding supported expansion, including a partnership with Euronext for access to nine new geographies starting with France. The platform uses technology to aggregate retail orders and route them through stockbrokers, addressing the exclusion of everyday investors from primary equity markets. |
| Sep 2018 | Seed | Lombard Odier (lead); Swordfish Investments; Business Angels Club Berlin | $3M | - | PrimaryBid is a London-based investment platform that enables retail investors to participate in IPOs and follow-on fundraises alongside institutional investors. In 2018, it closed a £2 million funding round led by funds managed by Lombard Odier, with participation from family offices. The proceeds supported PrimaryBid's pan-European expansion plans to provide retail investors exclusive opportunities to buy shares in offerings. |
| Mar 2016 | Pre-seed | Lombard Odier | $700K | - | - |
Who has invested in PrimaryBid?
13 investors have backed PrimaryBid across its funding rounds, including Outward VC, Pentech Ventures, Molten Ventures, OMERS Ventures, Salica Investments and ABN AMRO Ventures.
Lead investors include SoftBank Group, Outward VC, Pentech Ventures and Lombard Odier.
PrimaryBid Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Sep 2019 | ||
| 3 | Lead | Sep 2019 | ||
| 2 | Participant | Oct 2020 | ||
| 2 | Participant | Oct 2020 | ||
| 2 | Participant | Oct 2020 | ||
| 2 | Lead | Mar 2016 | ||
| 2 | Participant | Oct 2020 | ||
| 2 | Participant | Oct 2020 | ||
| 2 | Participant | Sep 2019 | ||
| 1 | Participant | Sep 2018 | ||
| 1 | Lead | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 13 PrimaryBid investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPrimaryBid Competitors
PrimaryBid competitors include listed companies like Tradition and Tiger Brokers, and private ones like Makor, Clear Street, INDmoney and Upvest.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.4B | $249M | $2.4B | 1.6x | ||
| Private | - | - | $200M | - | ||
| Private | $940M | - | $12B | 12.8x | ||
| Private | $18M | - | $650M | 36.1x | ||
| Private | $115M | - | $735M | 6.4x | ||
| Publicly listed | $612M | $284M | $851M | 0.4x |
PrimaryBid Public Comps
PrimaryBid is no longer listed, but its public comps include Yuanta Securities Korea, EFG Holding, Actinver, HSBC Bank Malta, Beltone Holding, Shin Young Securities, Kyobo Securities, Tiger Brokers, Vndirect Securities and Share India Securities.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $525M | - | 1.3x | - | - | - | |||
| $881M | $535M | 0.8x | 1.3x | 1.3x | - | |||
| $605M | - | 4.9x | - | - | - | |||
| $255M | - | 2.4x | - | - | - | |||
| $235M | $28M | 2.7x | - | 22.5x | - | |||
| $329M | - | 2.5x | - | - | - | |||
| $339M | $291M | 2.4x | - | 2.8x | - | |||
| $612M | $284M | 0.4x | 0.4x | 0.9x | 1.2x | |||
This data is available for Pro users. Sign up to see all PrimaryBid competitors and their valuation data. Start Free Trial | ||||||||
Common questions about PrimaryBid
| When was PrimaryBid founded? | PrimaryBid was founded in 2012. |
| Where is PrimaryBid headquartered? | PrimaryBid is headquartered in London, United Kingdom. |
| Is PrimaryBid publicly listed? | No, PrimaryBid was acquired by SoFi in May 2026. |
| Who acquired PrimaryBid? | PrimaryBid was acquired by SoFi in May 2026. |
| What is PrimaryBid's valuation? | PrimaryBid was last valued at $690M in its Series C in February 2022. |
| How much funding has PrimaryBid raised? | PrimaryBid has raised $252M across 5 funding rounds. |
| What was PrimaryBid's last funding round? | PrimaryBid's last funding round was a $190M Series C in February 2022, led by SoftBank Group. |
| Who are PrimaryBid's investors? | PrimaryBid's investors include Pentech Ventures, Outward VC, London Stock Exchange Group, ABN AMRO Ventures, Fidelity International Strategic Ventures, Lombard Odier, Molten Ventures, OMERS Ventures, Salica Investments, Swordfish Investments and 3 others. |
| Which companies are comparable to PrimaryBid? | Companies comparable to PrimaryBid include Tradition, Makor, Clear Street, INDmoney, Upvest and Tiger Brokers. |
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