Sometimes a funding announcement lands that feels less like another step in the fintech hype cycle and more like a company finally hitting the moment it’s been building toward — and today, that note belongs to Sokin. The company revealed it has closed a $50 million Series B round led by Prysm Capital, joined by Watershed Ventures and existing backers including Morgan Stanley Expansion Capital, Aurum Partners, and two familiar PayPal alumni: Gary Marino and Mark Britto. With the new capital, Sokin now sits at a $300 million valuation, doubling revenue year over year and growing eight-fold since 2022 — a growth curve that no longer reads like early-stage momentum but like a platform settling into serious market demand.
The rationale behind the investment isn’t mysterious. Cross-border business payments remain one of the messiest corners of financial infrastructure — fragmented rails, legacy banking friction, slow settlement, opaque fees, and compliance complexity that scales exponentially with geography. Sokin is positioning itself as the connective tissue for global operations: a single platform with access to more than 70 currencies, the ability to hold balances in 26 via multi-currency IBANs and local accounts, and coverage across over 170 countries. That level of reach is usually the domain of large multinational banks, yet Sokin seems to be moving with startup pace rather than institutional inertia.
CEO and founder Vroon Modgill put it bluntly: global treasury and payments have been outdated for too long. After six years of quietly (and apparently successfully) building the underlying infrastructure, Sokin now feels ready to operate at full scale — and this financing provides the fuel. The next twelve months will focus on securing more regional licenses, deepening banking integrations across high-growth corridors in Asia, the Middle East, and South America, and strengthening the platform’s embedded payments stack, particularly around accounts payable and receivable automation.
Investors, to their credit, aren’t shy about the ambitions here. Prysm Capital sees Sokin as potentially defining the category, especially with the global business-payments market expected to hit $56 trillion in transaction volume by 2030. Morgan Stanley’s team echoed the sentiment, almost sounding pleasantly surprised that the company has consistently outperformed its projections — which is rare enough to take seriously.
It’s also worth noting that Sokin’s early backing included former footballer Rio Ferdinand — a fun reminder that fintech’s cap table culture continues to evolve. But the story now sits firmly with institutional capital betting on global scaling rather than celebrity endorsement.
Feels like one of those moments where execution will matter more than abstraction. The rails are in place, the market size is enormous, and the pain points are real. If Sokin can translate infrastructure into adoption without losing velocity to regulatory drag, it may well become the platform that finally makes international payments feel as seamless as domestic transfers. And honestly — for a world that runs more on cross-border work, supply chains, and distributed businesses than ever before — it’s about time.
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