Sokin Raises $50 Million Series B Following 100% Year-on-Year Growth

Sokin, streamlining cross-border accounts payable, receivable, and treasury operations, led by Vroon Modgill, Gaurav Modgill, Tom Steer, and Malcolm Leach, has secured $50 million in Series B funding led by Prysm Capital (“Prysm”) and joined by Watershed Ventures, with continued participation from investment 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. 

Following Prysm’s investment, Sokin’s valuation has risen to $300 million, with revenues doubling year-on-year and growing eightfold since 2022.

Prysm backed Sokin due to its rapid, profitable growth and strong potential to lead the $56 trillion global business payments market by 2030.

Sokin offers a unified platform for cross-border accounts payable, receivable, and treasury operations, supporting 70+ currencies and multi-currency accounts across 170+ countries.

Over the next 12 months, the company plans to expand its global infrastructure, secure regional licenses and banking partnerships, and enhance platform features, including accounts payable and receivable capabilities, to strengthen its presence in Asia, the Middle East, and South America.

"Prysm's investment validates our work and provides the capital needed for rapid global scaling," said Vroon Modgill, CEO and founder of Sokin.

"Over the past six years, we’ve built a comprehensive financial infrastructure to make global business faster and more efficient. Payments, treasury, and international accounts have long been fragmented and outdated; our platform unifies them, and this funding accelerates that vision worldwide."

"Sokin is at a transformative stage, having delivered impressive year-on-year growth. The company is well-positioned to become the leader in cross-border payments and has already built the infrastructure to capture a substantial addressable market," said Muhammad Mian, co-founder and partner at Prysm Capital.

"Sokin has consistently delivered exceptional execution and growth beyond expectations. Confidence remains high that the company will continue its trajectory, leading the transformation of business payments and enabling fast, efficient global commerce," said Lincoln Isetta, Managing Director at Morgan Stanley Expansion Capital.