The Week in Market Moves | May 7-14, 2026 - Tearsheet

SoFi acquired PrimaryBid’s directed share program assets, ending PrimaryBid’s independent operations and extending SoFi’s equity issuance infrastructure partnership (DSP2.0) for public offerings. The move positions SoFi beyond consumer banking toward the mechanics of how equity offerings are structured and distributed, requiring trust, regulatory depth, and execution quality. Remitly made Remitly Business fully available to SMBs in Canada after earlier expansion to the US and UK. New capabilities include bulk international payments and “send via link” workflows to simplify recipient onboarding. The strategy aims to reduce operational friction in international pay runs and beneficiary errors, shifting Remitly from a remittance app toward a back-office utility for global SMB commerce.

"SoFi has acquired PrimaryBid's directed share program assets, ending its independent operations. The deal builds on an existing partnership around equity issuance infrastructure (DSP2.0) for public offerings. Why it matters: This is SoFi pushing beyond consumer banking into the plumbing of capital markets. Instead of just letting users invest, it is starting to touch how equity offerings are structured and distributed."

"This shifts SoFi into a more complex, institution-facing layer of finance where scale alone is not the advantage; equally important are trust, regulatory depth, and execution quality. The move signals a broader ambition: not just to serve retail investors, but to sit closer to how companies raise capital in the first place."

"Remitly Business is now fully available to SMBs in Canada after earlier US and UK expansion. New features include bulk international payments and 'send via link' workflows to simplify recipient onboarding. Why it matters: Remitly is trying to turn cross-border payments from a consumer remittance product into a business operating layer."

"The real opportunity is removing the operational drag of international pay runs, beneficiary errors, and fragmented payout workflows. If it works, Remitly becomes less of a remittance app and more of a back-office utility for global SMB commerce. The challenge will be whether it can stay simple as it moves deeper into business complexity."

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