Sokin Raises £38m Series B to Cement Its Lead in Global Business Payments

December 1, 2025

Global business payments platform Sokin has secured £38 million in Series B funding, in a round led by US venture firm Prysm Capital. Watershed Ventures joined as a new investor, while existing backers including investment funds managed by Morgan Stanley Expansion Capital and Aurum Partners — alongside strategic angels Gary Marino and Mark Britto, both former PayPal executives — continued their support. The capital lifts Sokin's valuation to $300 million and will be used to deepen global infrastructure, secure new regional licences, and advance the company's embedded finance capabilities.

The problem Sokin addresses is deeply structural. Cross-border business payments have long been fragmented across multiple banking relationships, currencies, and compliance frameworks, forcing companies to manage accounts payable, receivable, and treasury functions through disconnected systems. For businesses operating across multiple markets, this creates operational drag, foreign exchange costs, and settlement delays that can materially affect cash flow. The global B2B payments market is projected to process $56 trillion in transaction volume by 2030, yet legacy infrastructure still dominates the sector.

Sokin's platform consolidates these functions into a single system, supporting transfers in more than 70 currencies, balance-holding in 26 currencies via multi-currency IBAN and local accounts, and transaction capabilities spanning over 170 countries. Founded in 2019 by CEO Vroon Modgill, the company has spent six years acquiring licences across the UK, Europe, the US, Canada, Australia, and India, and building the banking partnerships required to serve internationally active businesses at scale. Its solutions include both direct enterprise accounts and embedded finance offerings for partners who want to extend payment infrastructure to their own customers.

The Series B follows a year of significant commercial momentum. Sokin reported 100% year-on-year revenue growth and an eightfold increase since 2022 — a combination of growth and profitability described by Morgan Stanley Expansion Capital as exceeding expectations. The company also completed the acquisition of Settle Group in December 2024 and earlier raised $15 million in debt financing from funds managed by BlackRock, underscoring the confidence of institutional capital in its trajectory. Over the next 12 months, Sokin plans to add banking partnerships and licences in Singapore, Mexico, and other target markets across Asia and South America.

For Prysm Capital, the investment fits a stated thesis of backing companies rebuilding core financial infrastructure rather than layering consumer-facing features on top of it. Muhammad Mian, Partner at Prysm, cited Sokin's infrastructure depth and its position in a market with a large, underserved addressable opportunity as key reasons for leading the round. The raise adds to a broader wave of institutional capital flowing into cross-border payments infrastructure across Europe, as businesses increasingly demand unified, real-time solutions for managing global cash flows.

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