Sokin Appoints Former FT Partners VP Tom Steer as Chief Financial Officer

WHY THIS MATTERS: This high-profile addition to Sokin’s leadership bench signals a critical shift in the company’s strategy, moving from pure organic growth to an aggressive pursuit of fintech M&A. The move is highly significant within the broader cross-border payments sector, which remains highly fragmented. By securing $150 million in recent capital and installing an executive with a proven track record of scaling a payments giant (Zepz) through acquisitions, Sokin is positioning itself as a potential consolidator rather than merely a participant. This move reflects a widespread industry trend where market leaders, facing tougher capital markets, are choosing to buy expertise and geographical reach rather than building it slowly. For readers, this means Sokin is geared to become a major force, and its next move—the deployment of that war chest—will reshape the competitive landscape in global treasury management.

Sokin, the global business payments provider, has appointed Tom Steer as Chief Financial Officer. Steer joins from FT Partners, where he was a vice president at the fintech focused investment bank. Based in London, Steer joins Sokin’s executive management team and reports to CEO Vroon Modgill. 

The appointment comes during a concentrated period of capital activity. Sokin closed a $50 million Series B led by Prysm Capital in December 2025, valuing the business at $300 million, followed by a $100 million debt facility from Oxford Finance in January 2026. The combined $150 million positions Sokin to aggressively pursue their growth ambitions and remain opportunistic for potential acquisitions which could fast track their expansion.

Steer brings a wealth of fintech and payments experience. At FT Partners he advised on capital raises and mergers & acquisitions across the sector. Prior to that, Steer held finance leadership roles at the global digital remittance company, Zepz, where he helped scale the business from $1bn to $5bn through organic and inorganic initiatives.

At Sokin, his focus will be on developing the company’s capital strategy, overseeing any future acquisitions, and driving the finance function to support the rapid pace of growth in the business.

“Tom has a proven track record in scaling high-growth fintech businesses as well as deep expertise in financial strategy. He brings the strategic insight as well as the M&A and capital raising background we need to accelerate our international expansion and optimise our capital structure,” said Vroon Modgill, founder and CEO of Sokin.

“I am excited to be joining Sokin at such a key point in the company’s evolution. The potential for the business is clear in what is a huge and underserved cross-border payments market. The capital raised gives us the firepower to continue our upward trajectory and double down in our key growth markets, particularly in the US,” said Tom Steer, CFO of Sokin.

Sokin’s revenue has grown 100% year-over-year and increased eightfold since 2022. The company provides global payments, multi-currency accounts and treasury management to businesses across more than 170 countries. Its investors include Morgan Stanley Expansion Capital, Prysm Capital, Watershed Ventures, and former PayPal executives Gary Marino and Mark Britto.

Before his time at FT Partners, Steer held positions at WorldRemit, AMV BBDO and Deloitte. He has a post-graduate degree in Mergers & Acquisitions from Imperial Business School and is an  Associated Chartered Accountant (ACA) qualified through the Institute of Chartered Accountants in England and Wales (ICAEW).

FF NEWS TAKE: This appointment undeniably moves the needle, confirming Sokin’s intent to leverage its substantial capital for inorganic expansion. An executive focused on capital strategy and M&A integration is not a luxury but a requirement for transitioning to a global payments powerhouse. The next critical development to monitor is the nature of Sokin’s first acquisition target, particularly how quickly they can use an inorganic move to double down on stated growth markets, such as the competitive US region.