Prysm Capital’s EUR 42.9 million investment into UK-based Sokin is a clear break from the current fintech funding slowdown, underwriting a EUR ~257 million post-money valuation for a payments and treasury platform that has doubled revenue year-on-year and grown eightfold since 2022.
The growth-stage round – a USD 50 million Series B led by US investor Prysm – lands at a time when many payments and neobank assets are being marked down or left unfunded. Instead, Sokin’s valuation has been stepped up to around USD 300 million (c. EUR 257 million), positioning it firmly in the upper mid-market bracket and underscoring that investors will still pay up for scale, monetisation and infrastructure depth.
A contrarian bet in a cautious fintech cycle
Over the past two years, European fintech has shifted from hyper-growth to capital discipline. Later-stage rounds have thinned out, and payments platforms without clear profit paths have struggled to raise at flat valuations, let alone uplifts.
Sokin cuts across that trend on several fronts:
- Valuation uplift in a downcycle: The company’s post-money valuation of around USD 300 million contrasts with the broader reset in fintech multiples, where many peers have accepted lower or flat pricing.
- Growth plus profitability narrative: Verified figures point to 100% year-on-year revenue growth and an 8x revenue increase since 2022, with management and Prysm emphasising rapid, profitable growth rather than pure volume.
- Full-stack infrastructure, not a single-feature app: Sokin is positioned as a comprehensive financial infrastructure play rather than a narrow consumer fintech, which aligns more closely with what late-stage investors are still willing to fund.
In this context, Prysm’s lead role is a contrarian signal: capital is flowing not to the loudest brand, but to a B2B infrastructure platform solving a costly, operationally complex problem – global payments and treasury for businesses.
What Sokin is actually selling
Sokin operates a unified platform that combines:
- Multi-currency accounts supporting more than 70 currencies
- Cross-border payments for global trading and supplier networks
- Treasury management tools aimed at streamlining cash visibility and control across jurisdictions
The proposition is straightforward: replace fragmented, bank-by-bank and provider-by-provider setups with a single infrastructure layer for global business payments and treasury. For mid-market and growth companies expanding internationally, this is an increasingly acute pain point, particularly around speed, fees, reconciliation and regulatory complexity.
By targeting the operational plumbing of cross-border finance – rather than consumer wallets or card-led neo-banking – Sokin sits in a segment where switching is harder, relationships are stickier and revenue per client is structurally higher. That profile helps explain why an investor like Prysm is comfortable backing expansion in a risk-off environment.
Use of proceeds: licences, rails and reach
Sokin plans to deploy the Series B proceeds to accelerate its global build-out:
- Regulatory footprint: Securing additional regional licences to operate and scale across new markets.
- Banking partnerships: Deepening correspondent and local banking relationships to improve coverage, speed and pricing.
- Infrastructure and product: Further investment in its payments and treasury stack to handle higher volumes and more complex client needs.
This is classic infrastructure capital expenditure rather than marketing burn. In mid-market terms, the EUR 42.9 million ticket is meaningful: large enough to fund multi-region expansion and regulatory work, but not so large that it forces Sokin into a growth-at-all-costs posture that the market is currently punishing.
Risks – and why this deal still stands out
The main risks are familiar to any global payments player:
- Regulatory and compliance load as Sokin accumulates licences across jurisdictions.
- Intense competition from banks, incumbent payment processors and newer infrastructure fintechs.
- Execution risk in scaling operations and maintaining service quality as volumes grow.
However, in the current market, the bigger risk for investors has been paying up for revenue-light, consumer-facing fintech models. Sokin’s profile is the opposite: B2B infrastructure, multi-year client relationships and demonstrable revenue expansion.
For the European mid-market, this deal is a clear marker. Funding is not closed; it has become highly selective. Platforms that combine strong revenue trajectories with infrastructure depth and a clear regulatory strategy can still command growth capital and rising valuations. Prysm’s lead in Sokin’s Series B puts a number on that thesis – EUR 42.9 million today for a business the market now values at around EUR 257 million.