Mishcon de Reya has advised global payments group Sokin on all UK aspects of a $100 million syndicated secured venture debt facility led by Oxford Finance LLC, acting as agent and lead lender.
The facility was made available to Sokin’s US and Canadian subsidiaries, Plata Capital USA, Inc. and Plata Capital Canada Inc. As is typical for venture debt transactions, the deal also included an equity investment element, and we advised Sokin on Oxford Finance’s equity investment in Fintech Acquisition Limited as part of the wider funding package.
Sokin is a fast‑growing and profitable fintech business focused on global business payments and finance operations. The new facility represents a major milestone in the company’s international growth journey. The Oxford funding will support increased commercial activity and expansion across Sokin’s North American operations, together with wider investment in international platform development, including R&D, enhanced staffing, and further improvements to product capability and reach.
The transaction reflects a significant achievement for Sokin in securing substantial debt funding from a well‑established US venture debt lender. It underscores Sokin’s continued revenue growth, rising market presence and the strength of its platform in the global FinTech landscape.
The Mishcon de Reya team worked closely with Fenwick & West LLP, who advised Sokin on US matters, and with Alston & Bird’s US and UK teams, who acted for Oxford Finance LLC. The deal involved a broad scope of work, drawing on expertise across Mishcon de Reya’s Venture Capital, debt finance, tax and IP teams.
Mishcon de Reya’s venture debt practice regularly advises high‑growth companies, founders and lenders on complex cross‑border debt structures, equity‑linked arrangements and financing strategies that support scale and innovation.
Kym Jesse, Of Counsel at Mishcon de Reya, commented: “The team at Mishcon and I were delighted to have supported on this significant cross border financing transaction which reflects the strength of Sokin’s model and ambition and its established and secure status with leading venture debt lenders. We look forward to seeing how Sokin builds on this momentum in the next stage of its international expansion."