Sokin’s latest funding round shows that capital is still flowing decisively into scale-ready B2B payments infrastructure, even as broader fintech funding remains selective.
The UK-based cross‑border payments platform has raised EUR 46m in growth capital from a syndicate led by Prysm Capital, with participation from Watershed Ventures, Morgan Stanley Expansion Capital and Aurum Partners. The round forms part of Sokin’s wider Series B financing, which totals around USD 50m and values the company at approximately USD 300m (around EUR 275m–280m), firmly in the European mid‑market bracket.
A clear signal in a cautious fintech market
While venture funding into fintech has contracted since the 2021 peak, Sokin’s raise underscores where investors are still willing to pay up: scalable B2B payments infrastructure with visible monetisation and strong operating traction.
Sokin operates a cross‑border payments platform that consolidates global business payments, treasury tools, multi‑currency accounts and international transfers into a single system. It targets a structurally expanding segment: the global B2B payments market is projected to reach USD 56trn in transaction volume by 2030, driven by globalised supply chains and SMEs trading across borders.
In that context, Sokin’s numbers stand out. The company has delivered 100% year‑on‑year revenue growth and an 8x revenue increase since 2022, despite the broader pullback in growth‑stage fintech funding. Following an earlier USD 31m strategic investment from Morgan Stanley Expansion Capital, Sokin reported a 51% jump in new account openings and a 130% increase in headcount, signalling that capital deployed into sales, product and licensing is translating into tangible scale.
Mid‑market validation: EUR 300m valuation with blue‑chip backing
The Series B financing lifts Sokin’s valuation to around USD 300m, a level that positions it squarely in the mid‑market corridor that growth‑equity and late‑stage venture investors are prioritising: post‑product‑market fit, but still with significant upside before large‑cap territory.
Prysm Capital, which led the round, has built a track record in fintech and payments, and its involvement anchors the deal as a sector‑specialist bet rather than opportunistic capital. Continued participation from Morgan Stanley Expansion Capital and Aurum Partners further reinforces investor conviction in the company’s execution and unit economics.
The investor mix also includes high‑profile operators: former PayPal executives Gary Marino and Mark Britto, alongside strategic angels such as Rio Ferdinand. Their participation is more than cosmetic. In a crowded payments landscape, experienced payments operators and public‑facing backers can accelerate enterprise introductions, partnership discussions and brand recognition, especially in new geographies.
With‑trend: consolidation of fragmented cross‑border rails
Sokin’s raise aligns with a wider European and global trend: consolidation and professionalisation of cross‑border B2B payments, historically fragmented across banks, FX brokers and regional PSPs. Mid‑market corporates and fast‑growing SMEs increasingly seek:
- Unified platforms that integrate FX, multi‑currency accounts and treasury tools
- Regulatory coverage across multiple jurisdictions without building in‑house compliance stacks
- Cost and speed advantages versus traditional correspondent banking
Sokin’s strategy responds directly to this. The company plans to expand its global infrastructure, secure additional regional licences and deepen banking partnerships across Asia, the Middle East and South America. For European mid‑market businesses with suppliers and customers in these regions, that footprint is becoming a core requirement rather than a nice‑to‑have.
Capital stack: equity plus debt to fuel expansion
Alongside the Series B equity, Sokin has secured an additional USD 15m in debt financing from BlackRock. This blended capital structure is increasingly common in the mid‑market: equity to fund product, licences and strategic hires; debt to finance working capital and scale transaction volumes without excessive dilution.
For investors, the combination of rapid revenue growth, expanding account base and non‑dilutive capital suggests a business moving from pure land‑grab to more disciplined scaling.
Risks and how they stack up
The main risks are typical for high‑growth payments platforms:
- Regulatory complexity across multiple jurisdictions
- Intense competitive pressure from banks, global processors and newer fintechs
- Execution risk in scaling operations and compliance alongside rapid customer growth
Sokin’s trajectory – doubling revenues annually, 8x growth since 2022, and strong institutional backing – does not eliminate these risks but puts them into perspective. The company is raising at a mid‑market valuation rather than the inflated multiples of the 2021 cycle, giving investors more headroom and the business a more sustainable growth runway.
For the European mid‑market M&A and growth‑equity ecosystem, Sokin’s EUR 46m round is a clear market signal: capital is concentrating in payments infrastructure players that can demonstrate scale, regulatory progress and global ambition, not just user growth curves.