Mishcon de Reya has advised Sokin on all UK elements of its $50M Series B funding round. The round was led by Prysm Capital, with participation from Watershed Ventures, Morgan Stanley Expansion Capital, Aurum Partners, and a number of industry leaders and early backers. This marks a significant milestone for Sokin, reflecting the company’s 100% year-on-year revenue growth and eightfold increase since 2022, as well as the growing demand for streamlined cross-border payments and treasury solutions.
Founded by Vroon Modgill, Sokin has built a comprehensive platform that enables global businesses to manage accounts payable, receivable, and treasury operations across more than 170 countries. The company provides access to over 70 currencies for transfers and exchanges, with the ability to hold balances in 26 currencies through multi-currency IBAN and local accounts.
The capital raised will be used to further build out Sokin’s global infrastructure, secure additional regional licences and banking partnerships, and invest in its platform and embedded solutions. Sokin’s focus remains on expanding its accounts payable and receivable capabilities and extending its reach in key markets across Asia, the Middle East, and South America.
Vroon Modgill, CEO and founder of Sokin, commented:
“This funding is a major step forward for Sokin. With the backing of our investors, we’re accelerating our vision to make global business payments faster and more efficient. Mishcon de Reya’s expertise and commercial approach were invaluable throughout the process, helping us navigate a complex transaction and secure the investment needed to scale.”
Hayley Cross, Partner at Mishcon de Reya, said:
“Sokin’s growth and ambition has been remarkable to watch. It has been a privilege to support the team on this landmark Series B round and to once again play a part in their journey to becoming a leader in international payments.”
Emma O’Rourke, Associate at Mishcon de Reya, added:
“Working with Sokin has been a real pleasure. The scale and pace of their expansion is so impressive. I look forward to seeing the company continue to transform the global payments landscape and continuing to be a part of their growth journey!”