London-based money-transfer service Sokin today announced it has secured €42.9 million ($50 million) in Series B funding to accelerate its global expansion and product capabilities in the business payments, multi-currency accounts, and cross-border treasury infrastructure space.
The round was led by Prysm Capital 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.
Other early investors in the company include former England and Manchester United defender Rio Ferdinand and May Capital.
“Prysm’s investment validates what we’ve built and gives us the capital to scale rapidly,” says Vroon Modgill, CEO and founder of Sokin. “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 For too long, payments, treasury management, and international accounts have been fragmented and outdated.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.”
European FinTech activity in 2025 shows sustained investment in payments and cross-border infrastructure, with several startups securing notable rounds that help contextualise Sokin’s Series B.
In the UK, Navro raised €36 million to expand its international payment-curation platform, while London-based Fnality closed €115 million to advance wholesale settlement systems. In continental Europe, Berlin’s Payrails secured €27.7 million for its global payment-software stack, Oslo-based Two raised €13 million to scale B2B payment infrastructure, and Madrid’s Devengo obtained €2 million to build instant account-to-account payment rails.
Together, these announcements amount to roughly €215 million in adjacent 2025 sector funding and illustrate a Europe-wide focus on modernising payment and treasury infrastructure.
Against this backdrop, Sokin’s new capital places it firmly among the more substantial mid-stage rounds of the year – particularly within the UK, where multiple peers are also scaling global-reach payment capabilities.
EU-Startups has previously covered Sokin, including its December 2024 acquisition of Settle Group and its January 2025 €14.4 million debt round with BlackRock.
“Sokin is at a transformative stage having demonstrated impressive year-on-year business growth. The company is perfectly positioned to become the definitive leader in cross-border payments. Critically, Sokin has already built the infrastructure to capitalise on what we see as a huge addressable market,” says Muhammad Mian, co-founder and partner at Prysm Capital.
Sokin was founded in 2019 with a vision to remove borders, barriers and burdens associated with international payments. Today it enables global businesses to send and exchange more than 70 currencies and hold balances in 26 currencies with its multi-currency IBAN and local currency accounts – all through one platform that enables cross-border accounts payable, receivable, and treasury operations.
The company supports businesses across a wide range of verticals, from freight and logistics through to Premier League football clubs, giving them the clarity and control to run faster, scale smarter, and manage global payments with speed, efficiency and transparency.
Following Prysm’s investment, Sokin’s valuation has grown from last year to €257 million ($300 million), with the company’s revenues reportedly increasing 100% year-on-year and up 8x since 2022.
“Sokin has continued to demonstrate exceptional execution and impressive growth over and above our expectations. We have every confidence the company will continue on its trajectory and spearhead the transformation of business payments and fast and efficient global commerce” said Lincoln Isetta, managing director at Morgan Stanley Expansion Capital.
In the coming 12 months, the company will further build out its global infrastructure and secure additional regional licenses and banking partnerships, further extending Sokin’s global reach in markets across Asia, the Middle East and South America.
Sokin also plans to invest in its platform and embedded solutions, including expanding its leading accounts payable and receivable capabilities.
Read the orginal article: https://www.eu-startups.com/2025/12/british-fintech-firm-sokin-raises-e42-9-million-to-expand-global-payments-and-treasury-infrastructure/
