Breaking News
Sokin Secures $15m Debt Funding From Funds and Accounts Managed by BlackRock
UK headquartered payments firm Sokin has secured $15m debt funding from funds and accounts managed by BlackRock, enabling the business to continue its rapid growth trajectory. The funding comes just months after Morgan Stanley Expansion Capital acquired a stake in the business with a strategic investment worth $31m.
Sokin has seen significant growth in recent months following that investment in July, including a 51% increase in account openings, and a 130% increase in headcount. It also recently acquired Norwegian fintech Settle Group AS, gaining a European EMI license and unlocking new growth opportunities across region.
The latest funding will enable Sokin to further grow its market share, develop new products which enhance its proposition and significantly scale its team including new offices in London, New York, Toronto and Dubai.
Sokin has a number of high-profile investors backing the business, including Gary Marino, former Chief Commercial Officer at PayPal, Mark Britto, former Chief Product Officer at PayPal, Aurum Partners, the investment fund affiliated with the owners of the San Francisco 49ers, as well as former England and Manchester United defender Rio Ferdinand.
Sokin was founded with a simple vision to remove the borders, barriers, and burdens associated with international payments. Today it enables global businesses to transfer, hold and exchange over 100 currencies with its multi-currency IBAN and local currency accounts – all through one comprehensive platform.
Sokin is currently operating at a transactional volume run-rate of over $4.5 billion annually, with further rapid growth anticipated. It supports businesses across a wide range of verticals, from freight and logistics – to Premier League football clubs, enabling them to manage global payments and financials with speed, efficiency, and transparency.
Vroon Modgill, CEO & Founder of Sokin, said: “We’re on a mission to make a major impact and become the go-to partner for businesses taking on the global stage. This backing from BlackRock serves as a testament to the strength of our proposition, and the rate in which we’ve managed to onboard new business customers. With this funding, we’ll further elevate our product offering, expand our international team, and break into new, untapped markets.”
Tim Fenwick, Director at BlackRock Growth Debt, said: “Sokin has developed a unique and compelling proposition that helps solve major challenges facing international businesses. We are glad to support Sokin’s rapid growth trajectory and welcome them to our diverse portfolio of high-growth companies.”
Companies In This Post
- EXCLUSIVE: “Game Changer” – Andy Lyons, Freemarket in ‘The Fintech Magazine’ Read more
- Binance Launches The Blockchain 100 Award to Honor Top Creators Driving Blockchain Innovation Read more
- MAPFRE AM Appoints Ismael García Puente as the New Deputy Director of Investment Strategy Read more
- Open Banking Startup Yavrio Named One of CNBC’s UK Top Fintechs 2025, Cementing Leadership in Enterprise Finance Read more
- Crypto Wallet Adoption is Skewing Affluent as Dreams of Financial Freedom Fades Read more
Maven VCTs Launch £50 Million Fundraise
The Maven VCTs are also notable for the diversification they offer. Spread an investment across all four Maven VCTs and an investor will be invested in over 130 private and AIM quoted companies. A diverse portfolio helps ensure individual failures, inevitable when investing in small companies, don’t sink the whole VCT.
Lastro Secures $15M Series A Led by Prosus Ventures to Scale its AI Agent, Empowering Over 2M Homebuyers
Lastro, a Brazilian artificial intelligence proptech, announced a Series A round of $15 million led by Prosus Ventures, a global tech operator and investor and major shareholder in iFood and OLX. FJ Labs and Endeavor Scale-Up Ventures also participated in the round, along with existing investors Canary, QED and 1Sharpe Ventures.
Baselane Announces $34M in New Funding, Debuts AI-Powered Tools to Automate Banking and Bookkeeping for Real Estate Investors
Baselane, the banking and financial platform purpose-built for real estate investors, today announced it has raised a total of $34.4 million in new funding, including a recently closed $20 million Series B led by Thomvest Ventures and a previously unannounced $14.4 million Series A led by Matrix Partners. The funding milestone coincides with the launch of Baselane Smart, a subscription-based suite of AI-powered automation tools designed to give landlords greater control, efficiency, and insight into their rental property finances.
Teylor Secures €150 Million From Fasanara Capital to Drive pan-European Expansion in SME Financing
Teylor, one of Europe’s leading technology-driven SME financing platforms, has secured €150 million in new financing from Fasanara Capital, a leading fintech-focused structured credit asset manager. The facility will be used to scale Teylor’s factoring business across seven European countries.
Kanastra Raises $30 Million Series B from F-Prime to Spearhead Brazil’s Private Credit Infrastructure Development
Kanastra, a financial technology company providing technology infrastructure and services for private credit funds and securitizations, today announced a $30 million Series B round led by F-Prime, with contributions from the International Finance Corporation (IFC), the World Bank's investment arm, as well as follow-on investments from current investors Kaszek, Valor Capital, Quona Capital and Itaú, Latin America's largest bank. The new capital will be used to accelerate product development, deepen automation across the private credit funds lifecycle, and expand Kanastra's client base.
Plutus Secures Investment from ServiceNow Ventures to Accelerate Agentic AI Innovation for the Insurance Industry
Plutus, the emerging leader in Agentic AI solutions for the insurance sector, announced an investment from ServiceNow Ventures
Encompass Closes Latest Funding Round, Led by BNP Paribas, to Fast-Track Further Innovation in Corporate Digital Identity Technology
Encompass Corporation, the global leader in Corporate Digital Identity solutions, announced details of a financing round led by BNP Paribas
EXCLUSIVE: “Game Changer” – Andy Lyons, Freemarket in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Binance Launches The Blockchain 100 Award to Honor Top Creators Driving Blockchain Innovation
Binance, the world’s largest crypto exchange by trading volume and users, today announced the inaugural launch of The Blockchain 100. This new annual awards show is designed to recognize and celebrate the most influential creators advancing blockchain education, innovation, and community engagement.
MAPFRE AM Appoints Ismael García Puente as the New Deputy Director of Investment Strategy
MAPFRE AM, the asset management arm of MAPFRE Group has appointed Ismael García Puente as the new Deputy Director of Investment Strategy, a newly created position in which he will be involved in the development and communication of the MAPFRE Group’s investment strategy, overseeing the management of specialist funds, market analysis, and asset allocation. He will also continue to assume responsibility for managing the wealth manager networks and life insurance portfolios as well as liaising with customers.
Open Banking Startup Yavrio Named One of CNBC’s UK Top Fintechs 2025, Cementing Leadership in Enterprise Finance
Yavrio, a fast-growing Open Banking fintech enabling embedded payments and banking directly into ERPs, has been selected as one of CNBC’s Top UK Fintechs 2025.
Crypto Wallet Adoption is Skewing Affluent as Dreams of Financial Freedom Fades
A new research report from global payments infrastructure platform Mercuryo and Web3 research firm Protocol Theory shows that while cryptowallet adoption is accelerating among affluent users, lower-income groups face costly access points and risk being excluded.
Asia Insurance Has Launched With CoverGo To Enable End-to-End Health Insurance Digital Experience
Asia Insurance, one of the leading general insurers in Hong Kong and Macau, has officially gone live withCoverGo’s next-gen, end-to-end health insurance platform, to power a fully digital, end-to-end health insurance journey for its customers, distribution partners, and internal teams.
Worldline and YeePay Sign Strategic Partnership To Unlock Cross-Border Payment Opportunities in China’s Aviation and Travel Sector
Worldline [Euronext: WLN], a global leader in payment services, has signed a strategic partnership agreement with YeePay, a leading Chinese third-party payment provider specialising in the airline and travel sector.