A neobank for the global marketplace.
Founded in 2019 by Vroon Modgill, Sokin gives businesses multi-currency accounts across 70 currencies, IBAN balances in 26 currencies, and the ability to send payments to more than 170 countries.
The subscription model removes traditional FX spreads and hidden fees, turning cross-border transfers into a simple monthly service.
Sokin has just closed a $50M Series B round led by Prysm Capital, with participation from WaterSHED Ventures, Morgan Stanley Expansion Capital, Aurum Partners, and former footballer Rio Ferdinand. The round values the company at more than $300M and follows 100% year-on-year revenue growth.
Customers now process more than $8B annually through the platform. Sokin's edge is its all-in-one account infrastructure and network of local licenses that make global payments feel local.
As cross-border trade grows and regulation tightens, frictionless global accounts start to look like an obvious winner.
What would your business do with a single account in 70 currencies?
#fintechoftheday #payments #crossborder #subscription
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