UK B2B cross-border payments company Sokin is pursuing international growth after raising $50 million in Series B funding led by Prysm Capital.
This funding round brings Sokin’s valuation to $300 million, with participation from Watershed Ventures, investment funds managed by Morgan Stanley Expansion Capital, Aurum Partners, and former senior PayPal executives Gary Marino and Mark Britto.
Sokin’s platform simplifies cross-border accounts payable, receivable, and treasury operations for global businesses. It offers access to over 70 currencies for transfers and exchanges, allowing users to hold balances in 26 currencies through multi-currency IBAN and local accounts, with transaction capabilities in more than 170 countries.
In the coming year, Sokin plans to enhance its global infrastructure and secure additional regional licenses and banking partnerships to expand its presence in Asia, the Middle East, and South America.
Vroon Modgill, CEO of Sokin, stated: “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 For too long, payments, treasury management, and international accounts have been fragmented and outdated.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 enables us to accelerate that vision globally.”