Sokin secures $50M to scale global payment services
Sokin raises $50 million in Series B funding. The company builds global business payment systems. It focuses on cross-border transfers, treasury operations, and multi-currency accounts. The raise lifts Sokin’s valuation to $300 million. It follows a year of 100% revenue growth.
The round was led by Prysm Capital. Watershed Ventures also joined. Funds managed by Morgan Stanley Expansion Capital took part. Aurum Partners invested. Former PayPal leaders Gary Marino and Mark Britto joined too.
Sokin has grown quickly. Revenues are up eight-fold since 2022. Profitability has remained strong. Prysm invested because it sees Sokin as a future leader in global business payments. The market could reach $56 trillion by 2030.
Platform growth powered by global demand
Sokin has built a comprehensive platform for business payments. Clients can transfer, exchange, and hold funds across 70 currencies. They can hold balances in 26 currencies. They can manage accounts payable and receivable. They can manage treasury functions. The service works in more than 170 countries.
The company offers multi-currency IBAN accounts. It also offers local currency accounts. It brings payment operations into one place. Businesses avoid patchwork systems. They gain a clear overview of cash flow. They manage global activity with less friction.
CEO and founder Vroon Modgill says the raise validates the company’s work. Sokin has spent six years building its financial infrastructure. It aims to replace outdated payment processes. It wants faster workflows. It wants clearer international tools. It now plans to accelerate that mission.
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New capital to deepen global reach
Sokin will use the funds to expand its financial infrastructure. New regional licences will support this plan. New banking partnerships will follow. Expansion across Asia, the Middle East, and South America is a priority. The company will also upgrade its product suite. Accounts payable and receivable features will grow further.
Prysm says Sokin is entering a transformative stage. It believes Sokin has the infrastructure needed to lead the market. Morgan Stanley Expansion Capital says the company has exceeded growth expectations. Early investors such as Rio Ferdinand and May Capital have remained supportive.
Sokin’s focus is on global business. It supports sectors such as logistics and freight. It also supports large sports organisations. It provides payment tools that help teams scale faster. It reduces delays. It brings transparency. It removes barriers for international operations.
Cross-border payments move into a new phase
Sokin was founded in 2019 to remove boundaries in global finance. The goal was simple. Create a single system for international transfers. Build tools that remove fragmentation. Make global commerce faster. Make everything easier to manage.
Today the company operates from the United Kingdom. It has offices in the United States, Canada, the United Arab Emirates, Singapore, Mexico, Norway, and India. It serves a wide range of business clients. It also powers embedded finance solutions. These allow other organisations to integrate Sokin’s infrastructure directly into their products.
The company believes the next phase of growth will centre on global reach. It plans to become a core payments partner for international businesses. It wants to handle more cross-border volume. It wants to help teams send, receive, and manage funds with no unnecessary hurdles.
The new funding gives Sokin room to accelerate this plan. It also supports larger infrastructure upgrades. Regional growth will follow. Product expansion will continue. The company says the market is ready. It believes businesses want unified systems. It wants to become the standard provider of those systems.
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