Sokin, the UK-based fintech transforming cross-border business payments, has raised $50 million in a Series B funding round led by Prysm Capital, with participation from Watershed Ventures, Morgan Stanley Expansion Capital, Aurum Partners, and former PayPal executives Gary Marino and Mark Britto. This infusion raises Sokin’s valuation to $300 million, following an impressive 100% year-on-year revenue growth and an eightfold increase since 2022.
Founded in 2019 by CEO and founder Vroon Modgill, Sokin has built a comprehensive platform that consolidates cross-border accounts payable, receivable, and treasury management into a single interface. Businesses can now transact in over 70 currencies, hold balances in 26 currencies, and operate across more than 170 countries.
“Our mission has always been to remove the barriers in international payments,” said Vroon Modgill, CEO and founder of Sokin. “For too long, businesses have navigated fragmented systems. This funding allows us to accelerate our vision of a truly global financial infrastructure.”
Sokin plans to use the Series B proceeds to expand its global footprint, secure additional regional licenses, and strengthen banking partnerships across Asia, the Middle East, and South America. The company will also invest in enhancing platform capabilities, including advanced accounts payable and receivable functionalities.
Muhammad Mian, co-founder and partner at Prysm Capital, noted: “Sokin is at a transformative stage. They have built infrastructure capable of capturing a vast and growing market. This is a rare combination of vision and execution.”
Lincoln Isetta, Managing Director at Morgan Stanley Expansion Capital, added: “The company’s execution and growth trajectory underscore its potential to redefine global business payments and accelerate commerce worldwide.”
Early supporters of Sokin include former England and Manchester United defender Rio Ferdinand and May Capital, highlighting confidence from both the investment and entrepreneurial community.
Editorial Perspective:
The Series B positions Sokin as a leading contender in the $56 trillion projected global business payments market by 2030. The platform’s combination of multi-currency capabilities, embedded finance solutions, and global infrastructure uniquely addresses long-standing inefficiencies in cross-border transactions.
With offices spanning the United States, Canada, UAE, Singapore, Mexico, Norway, and India, Sokin is strategically placed to capture emerging market opportunities where traditional payment systems are slower and fragmented. Its approach of integrating treasury management, accounts payable, and embedded finance could become the new standard for international business operations, particularly for SMEs and large enterprises managing multi-national cash flows.
The company’s consistent profitability and rapid expansion signal both operational excellence and a deep understanding of the market’s unmet needs. If executed effectively, Sokin is poised to redefine cross-border payments, reducing friction and enabling companies to scale faster globally.
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