By Muhammad Mian, Co-Founder and Partner at Prysm Capital
The global payments market is worth $56 trillion, yet much of it still runs on infrastructure built for a different era. Cross-border payments remain slow and expensive, with layers of intermediaries adding cost, time, and complexity. Plenty of companies have modernized the interface; the real challenge is rebuilding the underlying infrastructure. That requires regulatory licenses across multiple regions, direct banking partnerships, and an operational backbone that can move money across borders reliably and compliantly.
Enter Sokin: Cross-border payments for the modern era
Six years ago, the Sokin team set out to build the kind of foundational global infrastructure that others struggle to replicate. Cross-border payments were painfully slow, expensive, and opaque, and fixing this required more than good technology. It required the hard, unglamorous work of securing licenses, establishing banking partnerships across multiple jurisdictions, and building the infrastructure that enables seamless cross-border payments. The team has built a comprehensive platform that streamlines cross-border accounts payable, receivable, and treasury operations for global businesses. Sokin currently provides access to more than 70 currencies for transfers and exchanges, with the ability to hold balances in 26 currencies through multi-currency IBAN and local currency accounts, and transaction capabilities across more than 170 countries.
Now, with Sokin closing its Series B, led by Prysm Capital with continued participation from Morgan Stanley Expansion Capital, Watershed Ventures and others, the company is at an inflection point. With revenues growing more than 100% year-on-year, 8x since 2022, while remaining profitable, Sokin has paired rapid scale with the operational discipline that global payments demand.
The Hard Work That Matters
Sokin didn’t take shortcuts. While others focused on front-end polish, the team concentrated on the infrastructure itself: securing licenses, establishing multi-jurisdictional banking partnerships, and building systems designed for scalability. Founder and CEO Vroon Modgill has also assembled a strong leadership team and surrounded himself with experienced advisors, including former PayPal executives Gary Marino and Mark Britto.
The strategy is paying off. Sokin has demonstrated both growth and profitability—a rare combination in the global payments sector.
Why This Fits Our Thesis
At Prysm, we invest in companies rethinking how capital moves through the world. We’re drawn to founders tackling complex, economy-defining problems—not consumer fintech improving convenience, but teams rebuilding the core infrastructure global businesses depend on.
Sokin is doing exactly that. This isn’t a cosmetic upgrade to legacy processes—it’s a rebuild of how cross-border payments should work: transparent, efficient, and aligned with the needs of modern global commerce. The team brings deep payments expertise, technology strength, and operational discipline, supported by investors and advisors who understand what it takes to build at global scale.
Building for Decades
Over the next 12 months, Sokin will expand its global infrastructure with new regional licenses and banking partnerships across Asia, the Middle East, and South America, while continuing to invest in its platform and embedded solutions.
For us, leading this Series B is a long-term bet on a company positioned to define the next generation of cross-border payments. Sokin is building infrastructure that will matter for decades. We’re proud to partner with them—and this is only the beginning.
Disclaimer: For informational purposes only. Not an offer of any securities or of the investment advisory services of Prysm Capital, L.P. References in this piece are provided solely for illustrative purposes to highlight aspects of Prysm Capital’s investment approach and do not purport to represent all investments made by Prysm Capital. Past performance is not indicative of future results.