Sokin, a UK-based provider of cross-border payments and financial operations software, has secured $50 million in new funding as it prepares for a broader international expansion. The round attracted backing from senior figures formerly at PayPal, alongside institutional investors.
Gary Marino, PayPal’s former chief commercial officer, and Mark Britto, who previously served as chief product officer, participated in the investment, joining venture capital firms in supporting the company. The funding was led by Prysm Capital, with additional participation from a Morgan Stanley–affiliated investment fund.
According to Sokin, the new capital will be used to enhance its product suite and accelerate expansion across multiple regions.
Scaling a Global Payments Platform
Sokin offers tools that combine cross-border payments with treasury management and accounting functionality. The company said it plans to use the fresh funding to strengthen its infrastructure, expand its accounts receivable and accounts payable capabilities, and support customers operating across borders.
Over the next year, Sokin intends to pursue additional regulatory licenses, deepen banking relationships, and extend its reach into new markets. Priority regions include Asia, South America, and the Middle East, where demand for streamlined international payments continues to grow.
The company currently enables transactions and currency exchanges in more than 70 currencies.
Growing Despite a Tough Funding Environment
With the latest raise, Sokin’s total funding now stands at $85 million, according to a company spokesperson. The business employs around 150 people globally, including approximately 25 staff members based in the United States.
The investment comes at a time when venture funding for payments companies has slowed significantly. Global deal and investment volumes in the payments sector totaled $4.6 billion in the first half of 2025, down sharply from the $30.8 billion recorded across all of 2024, according to recent industry research from KPMG.
Despite the broader downturn, Sokin’s new round pushed its valuation to $300 million. The company said revenues have continued to grow since 2022, though it did not provide specific figures.
Long-Term Ambitions
Sokin has set aggressive targets for the scale of its platform. The company said it expects to support up to $56 trillion in transaction volume annually by 2030 as it expands its global payments and treasury services.
Founder and CEO Vroon Modgill said the company was created to address inefficiencies in international finance, where payments, treasury operations, and global accounts have historically been handled through disconnected systems.
According to Modgill, Sokin’s goal is to provide businesses with a unified financial infrastructure that simplifies cross-border operations and improves efficiency as companies scale internationally.