Cross-border payments fintech Sokin has secured $50 million in a fresh funding round, which now values the UK-based firm at $300 million. Moreover, the UK-headquartered company says it will deploy the capital to accelerate its international expansion plans and advance product development.
The Series B round was led by US investment firm Prysm Capital, while Watershed Ventures also took part. Additionally, existing backers—including investment funds managed by Morgan Stanley Expansion Capital and Aurum Partners—joined the round.
Founded in 2019 and based in London, Sokin operates a B2B platform that streamlines cross-border accounts payable, accounts receivable, and treasury functions for enterprises. Furthermore, the fintech offers access to over 70 currencies for transfers and foreign exchange.
Over the coming year, Sokin says it will strengthen its infrastructure and pursue regional licenses and banking partnerships, as it aims to broaden its global footprint.
Vroon Modgill, CEO and founder of Sokin, said, “We’ve spent the past six years building a comprehensive financial infrastructure that makes global business faster and more efficient.”
“For too long, payments, treasury management, and international accounts have been fragmented and outdated. We’ve built the platform that brings it all together, and this funding lets us accelerate that vision globally.”
