Sokin raises £37m Series B to simplify cross-border supplier payments with multi-currency accounts
This article covers Sokin, a fintech startup, raising £37.8m in a Series B round to accelerate its global business payments platform. The funding aims to support businesses managing cross-border payments, accounts payable and treasury operations by expanding Sokin's multi-currency payments and embedded finance infrastructure.
Sokin, a fintech startup, has raised £37 million in a Series B round to accelerate its global business payments platform. The funding comes as the company reports rapid revenue growth and expands the reach of its multi-currency payments, accounts payable and treasury tools — a sign that business-focused cross-border payments remain an active area for digital finance innovation.
Why it matters
Sokin says revenues grew 100% year on year and are eight times higher than in 2022. Its post-round valuation is reported at £226.7 million ($300 million). Those figures matter because they signal demand for unified payments and treasury infrastructure among businesses operating across many currencies and jurisdictions, an area that has historically been fragmented and slow to modernise.
The company supports transfers in more than 70 currencies, holds balances in 26 currencies, and operates across more than 170 countries. For businesses managing international supplier payments, receivables and treasury operations, that capability aims to reduce complexity and costs.
Inside the product
Sokin’s platform bundles cross-border accounts payable, receivable and treasury functions into a single service. Key features include multi-currency IBANs and local currency accounts, the ability to exchange and transfer across many currencies, and embedded finance options that let other companies offer Sokin’s payments infrastructure to their customers.
The company serves a range of verticals. Freight and logistics customers benefit from multi-jurisdictional supplier payments; professional sports clubs use consolidated accounts for international operations and player payments. Sokin plans to invest this year in regional licences, additional banking partnerships and expanding its accounts payable and receivable tooling to support further geographic growth in Asia, the Middle East and South America.
Who are the investors?
Who are the investors?
The Series B round totals £37.8 million. It was led by Prysm Capital and joined by Watershed Ventures, with follow-on participation from funds managed by Morgan Stanley Expansion Capital, Aurum Partners, Gary Marino (former chief commercial officer at PayPal) and Mark Britto (former chief product officer at PayPal). Early backers include former England and Manchester United defender Rio Ferdinand and May Capital.
Prysm framed its investment around Sokin’s revenue growth and profitability, citing the company’s infrastructure as a reason it can scale in the large cross-border business payments market. Morgan Stanley’s team pointed to Sokin’s execution as a reason to support further expansion.
In the announcement, Muhammad Mian, co-founder and partner at Prysm Capital, said:
Sokin is at a transformative stage having demonstrated impressive year-on-year business growth. The company is perfectly positioned to become the definitive leader in cross-border payments. Critically, Sokin has already built the infrastructure to capitalize on what we see as a huge addressable market
In the announcement, Lincoln Isetta, managing director at Morgan Stanley Expansion Capital, said:
Sokin has continued to demonstrate exceptional execution and impressive growth over and above our expectations. We have every confidence the company will continue on its trajectory and spearhead the transformation of business payments and fast and efficient global commerce
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Founder perspective
In the announcement, Vroon Modgill, CEO and founder of Sokin, said:
Prysm's investment validates what we've built and gives us the capital to scale rapidly. 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
Modgill positions Sokin as an infrastructure play: selling direct to business clients while also powering embedded finance for partners. The strategy aims to combine volume-driven transaction flows with product features that lock in treasury and payables workflows.
The bigger picture
The round underlines continued investor interest in business-focused payments infrastructure and embedded finance models. For businesses operating internationally, the combination of multi-currency accounts, local payout rails and treasury tooling is becoming a standard expectation rather than a luxury.
The deal also highlights practical challenges that remain for fintechs expanding beyond the UK and Europe: securing regional licences, establishing local banking partnerships and navigating diverse regulatory regimes. The company’s stated plans to pursue licences and partnerships in Asia, the Middle East and South America reflect that operational work.
At a sector level, this funding sits alongside steady activity in fintech venture markets and an ongoing appetite from fintech investors for companies that can simplify cross-border commerce while generating predictable revenue.
Sokin’s growth and funding round are another data point in the UK’s broader fintech narrative: firms building infrastructure for global business payments continue to attract capital as the market for cross-border B2B payments evolves.
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