Cross-border payment fintech Sokin has received $50m in a funding round, valuing the UK fintech at $300m.
UK-headquartered Sokin says it will use the funding to speed up overseas expansion and on product development.
The Series B funding round was led by US investment firm Prysm Capital, with Watershed Ventures participating. Existing investors, including investment funds managed by Morgan Stanley Expansion Capital and Aurum Partners, also participated.
Founded in 2019 and headquartered in London, Sokin’s B2B platform streamlines cross-border accounts payable, receivable, and treasury operations for businesses.
The fintech provides access to more than 70 currencies for transfers and exchanges.
Over the next year, Sokin says it will build on its infrastructure and look to bag regional licenses and banking partnerships, as it looks to extend its reach around the world.
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"For too long, payments, treasury management, and international accounts have been fragmented and outdated.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.”
IMAGE: SOKIN
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