Backed by PayPal alumni, UK payments startup Sokin lands $50M at $300M valuation — TFN
UK-headquartered fintech Sokin has raised $50 million in Series B funding, valuing the company at $300 million. The round was led by Prysm Capital, with participation from Watershed Ventures and continued backing from Morgan Stanley Expansion Capital, Aurum Partners, and former PayPal executives Gary Marino and Mark Britto. The raise follows 100% year-on-year revenue growth and an eightfold increase since 2022, as well as a $15 million debt facility secured earlier this year.
The new capital will accelerate Sokin’s global expansion. The company plans to deepen its presence across Asia, the Middle East, and South America by securing additional regional licenses and expanding its network of banking partners. Alongside market growth, Sokin will invest in product development to enhance its embedded finance capabilities—enabling other organizations to integrate Sokin’s payments infrastructure—and to advance its cross-border accounts payable and receivable solutions for fast-scaling businesses.
Sokin’s platform is built to simplify international money movement for businesses of all sizes. By unifying accounts payable, receivable, and treasury workflows into a single system, it reduces reliance on fragmented providers and manual processes. The result is faster, more transparent, and more efficient cross-border operations.
Key capabilities include:
- Transfers and exchanges in 70+ currencies
- Balance holding in 26 currencies
- Multi-currency IBANs and local currency accounts
- Coverage across more than 170 countries
Founded in 2019 by CEO Vroon Modgill, Sokin was created to remove borders and bottlenecks from international payments. Its approach has attracted customers across logistics, freight, sports, and Premier League football clubs, giving global enterprises greater clarity and control as they scale.
The company now operates from offices in the United Kingdom, United States, Canada, United Arab Emirates, Singapore, Mexico, Norway, and India. Early supporters include former England and Manchester United defender Rio Ferdinand and May Capital.
Commenting on the raise, Vroon Modgill said the investment will help Sokin scale rapidly: the company has spent years building comprehensive financial infrastructure to make global business faster and more efficient, unifying payments, treasury management, and international accounts in one platform.
Prysm Capital’s co-founder and partner Muhammad Mian called Sokin “perfectly positioned to become the definitive leader in cross-border payments,” highlighting the company’s year-on-year growth and the scale of the addressable market. Morgan Stanley Expansion Capital also reaffirmed its support, noting Sokin’s strong execution and trajectory in transforming business payments.
With robust revenue momentum, expanding geographic reach, and a strengthened product roadmap, Sokin is solidifying its position in modern cross-border business payments—turning a historically complex landscape into a more seamless global experience.
