Sokin

What Sokin does

Sokin is a London-headquartered global business payments platform that enables companies to hold funds in 26+ currency wallets with local bank details and to send payments to 170+ countries in 70+ currencies. Operating under the legal entity Plata Capital Ltd. (also registered as Plata Capital USA Inc. with FinCEN in Sacramento), the company is regulated across six+ jurisdictions including the FCA (UK), FinCEN (US), NFSA/EMI (EEA, via the December 2024 acquisition of Norwegian fintech Settle Group AS), Bank of Canada/Fintrac, DFSA (UAE) and ASIC/AUSTRAC (Australia). The product portfolio combines a core multi-currency accounts and global payments layer with acceptance modules (Sokin Checkout, Payment Links), treasury and operations modules (Batch Payments, Balance Boost yield up to 3.74% APY, Sokin Direct instant 24/7 transfers), a hybrid fiat/stablecoin extension added via the March 2026 acquisition of Genpaid, native accounting integrations with QuickBooks, Xero, NetSuite and Sage, and an embedded finance Platform/API layer used by FinTechs, TravelTechs and global payroll providers.

Sokin makes money on a primarily transaction-based model: per-transaction payment fees (UK £1.00, EU €1.00, US ACH from 5 units, international up to 10 units, free Sokin-to-Sokin), FX spreads from 0.3% on majors and 0.8% on minors, card processing from 1.2% + fixed fee, net interest margin on customer balances via Balance Boost, and revenue share on embedded platform and partner volumes. Pricing is transparent and freemium, with free onboarding, accounts, receiving, holding, bulk payments and Sokin-to-Sokin transfers. Sokin's go-to-market blends product-led self-serve web onboarding for SMBs, sales-led motions for mid-market and enterprise (including marquee deals with Manchester United, British & Irish Lions, Nottingham Forest FC, MI London, T100 Triathlon, Excel London, and a strategic technology partnership with Adyen), and an embedded/OEM channel via Sokin Platform.

The company is founder-led by CEO Vroon Modgill, employs 101–250 staff across seven global offices, and was backed by Morgan Stanley Expansion Capital, BlackRock, Prysm Capital (Series B lead, December 2025 at a $300M post-money valuation), Oxford Finance ($100M debt facility, January 2026), Watershed Ventures, Aurum Partners, and individual investors including former PayPal executives Gary Marino and Mark Britto and Rio Ferdinand. Sokin's growth has reportedly been 100% year-on-year and 8x since 2022 while remaining profitable, with $8B+ in annual cross-border payment volume and a 4.6/5 Trustpilot rating.

Name

Sokin

Legal name

Plata Capital Ltd.

Website

https://sokin.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Sokin is a London-headquartered fintech that provides multi-currency business accounts, cross-border payments to 170+ countries, and embedded finance infrastructure (including stablecoin capabilities) to SMBs, mid-market firms, and enterprises such as Manchester United and the British & Irish Lions.

Ownership category

akta.pro rank

Product category

Cross-Border Payments Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

International / Multi-Currency Wallets (FSAMAEAL), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Cross-border payments
• Multi-currency accounts
• Foreign exchange services
• Payment processing platform
• Embedded finance APIs

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Payment transaction fees: Per-transaction fees on domestic and international payments. Domestic payments priced regionally (UK £1.00 via FPS/BACS/CHAPS, EU €1.00 via SEPA Inst, Canada C$2.00 via EFT/E-Transfers, Australia A$2.00 via NPP, US ACH from 5 units, others from 5 units). International cross-border transfers priced up to 10 units. Payments between Sokin accounts are free.
2. FX spread: Foreign currency exchange priced at majors from 0.3% and minors from 0.8%; tailored FX pricing per currency pair; transparent markup with no hidden fees.
3. Card processing and authorisation fees: Ecommerce Checkout and Payment Links processing fees on card transactions, domestic and international, with fixed authorisation fees; advertised from 1.2% + £0.15/€0.20/$0.20; stated 24% savings vs. traditional providers such as PayPal, Stripe, Airwallex.
4. Balance Boost / Premium Wallet interest revenue: Revenue captured on customer funds held in Premium Wallets and Balance Boosts (USD, EUR, GBP) earning APY up to 3.74%; net interest spread between rate paid to clients and underlying yield. No monthly fees or charges on earnings.
5. Partner/affiliate revenue share: Referral and embedded partner program with percentage revenue split for partners introducing clients; flexible referral/affiliate/embedded partnership models including Payments-as-a-Service revenue.
6. Embedded finance / Platform-as-a-Service: Revenue sharing on platform partner volumes; transparent growth-driven model; customisable FX pricing for partners; revenue from onboarding, accounts, payouts, ecommerce and FX APIs powering third-party platforms.

Pricing tiers

Go-to-market motion7 records

Distribution channels7 records

Marketing channels9 records

Core offering

Sokin provides a unified global business payments platform that lets businesses open multi-currency accounts in 26+ currencies with local bank details, send international payments to 170+ countries in 70+ currencies via local rails and SWIFT, accept card and alternative payments through Checkout and Payment Links, manage treasury via batch payouts and yield-earning Balance Boost, and embed these capabilities into third-party products via APIs. The platform also offers hybrid finance via stablecoin accounts (USDC, USDT, USDS, PYUSD, EURC) for 24/7 cross-border settlement, acquired through the Genpaid acquisition.

Product overview

Sokin's offering is a single integrated cross-border business payments platform composed of multiple interconnected modules rather than a single monolithic product. The core foundation is a global business banking and treasury layer (Global Receivable Accounts and Global Payments) that lets companies hold 26+ currency wallets and send funds to 170+ countries in 70+ currencies. On top of this core, Sokin offers acceptance modules (Sokin Checkout, Payment Links), treasury and operations modules (Batch Payments, Balance Boost, Sokin Direct), a hybrid finance extension (Stablecoin Capabilities, unified with fiat via the Genpaid acquisition), system integrations (Accounting Integrations for QuickBooks/Xero/NetSuite/Sage), and an embedded finance Platform/API layer (Sokin Platform, Sokin API, mobile Sokin App) that lets partners embed these capabilities into their own products. The modules share a single multi-currency wallet, a single FX layer, and unified compliance and licensing, and are sold either directly to businesses or via partner/embedded models.

Differentiator

Problem solved

Functional benefit

Brands

• Sokin Direct: Instant Sokin-to-Sokin payments feature enabling zero-fee 24/7 international business transfers across up to 26 wallet currencies.
• Sokin Premium Wallet

Products and services

• Global Receivable Accounts Multi-currency and local-currency business accounts in 26+ currencies, providing local bank details in key markets (US, Canada, UK, EU, Australia) so businesses can receive funds like a local and reduce FX friction.
• Global Payments International payments to 170+ countries in 70+ currencies via local rails (ACH, FPS, BACS, CHAPS, SEPA, SEPA Inst, EFT, NPP), SWIFT, and instant Sokin-to-Sokin transfers, with wholesale-level FX rates and transparent fees.
• Sokin Checkout Hosted and embedded ecommerce checkout that accepts cards (Visa, Mastercard, Amex), digital wallets (Apple Pay, Google Pay), bank payments (SEPA Direct Debit), and local methods (Alipay, WeChat Pay, iDEAL), settling directly into like-for-like currency wallets to eliminate FX fees. PCI DSS compliant and SOC 2 Type II certified.
• Payment Links No-code URL/QR-code-based payment links that businesses can share via email, SMS, social media, or invoices to collect one-off or reusable payments in any supported currency, with like-for-like currency settlement.
• Batch Payments Automated bulk payouts to up to 5,000 unique beneficiaries in a single file across multiple currencies and corridors, with approval workflows and automated reconciliation into accounting software.
• Balance Boost Treasury yield product that lets businesses earn up to 3.74% APY on EUR, GBP, and USD balances held in Premium Wallets, with flexible terms (60-360 days) or instant-withdraw access at lower APY.
• Sokin API Suite of RESTful APIs covering onboarding/KYC, account creation and management, payouts/payments, ecommerce payment acceptance, and real-time FX, designed for embedded finance integrations and platform partners.
• Sokin Platform Embedded-finance platform for partners, exposing onboarding, multi-currency accounts, payouts, payment processing, FX, and Balance Boost capabilities through APIs, with revenue-share, compliance, and co-build support.
• Sokin App iOS and Android mobile app providing real-time control of business payments, including the ability to approve transfers, send payments, create payment links, and manage Sokin accounts on the go.
• Sokin Direct Instant Sokin-to-Sokin payment feature with zero transfer fees and 24/7 availability, supporting transfers across up to 26 wallet currencies.
• Stablecoin Capabilities (Hybrid Finance Platform) Stablecoin accounts and conversion capabilities supporting USDC, USDT, USDS, PYUSD, and EURC across Tron and Ethereum networks, with on/off-ramp connectivity in 170+ countries and AI-compatible payment routing inherited from the Genpaid acquisition.

Quantifiable outcome

• 100% year-on-year revenue growth and 8x revenue growth since 2022
• +7 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability4 records

Feature11 records

Partnerships

16 partnerships are on record, tiered core, flagship and minor.

• MI LondoncoreStrategic or Co-development Partner · 29 May 2026Front-of-shirt partnership with MI London (The Hundred's most successful cricket team). MI London will use Sokin's global payments and treasury platform; marks Sokin's entry point into a fast-growing global sport that returns to the Olympics at LA 2028.
• Professional Triathletes Organisation (PTO)coreStrategic or Co-development Partner · 7 May 2026Three-year foundational partnership; Official Global Business Payments Partner and title sponsor of the San Francisco T100 Triathlon on June 6-7, 2026. PTO will use Sokin's cross-border treasury and payments platform to support expansion from 9 events in 2026 to over 80 globally in 2027.
• AdyenflagshipTechnology or Integration · 29 April 2026Technology partnership to give US businesses a single solution for ecommerce payments and treasury operations; combines Adyen's global payment acceptance with Sokin's multi-currency accounts, FX, and treasury into one unified cross-border financial platform.
• GenpaidflagshipStrategic or Co-development Partner · 17 March 2026Acquired multichain non-custodial crypto payments company Genpaid on 17 March 2026 to enhance Sokin's hybrid finance platform; gives Sokin ownership of its full stablecoin technology stack including AI-compatible payment capabilities. Genpaid founder Ross Kolodyazhnyi appointed as Senior VP of AI and Crypto Payments.
• FT PartnersminorOthers · 5 March 2026Source of Sokin's new CFO Tom Steer, who was a former VP at FT Partners; appointed March 2026 to lead capital strategy, expand the finance team and support international growth.
• WooCommercecoreTechnology or Integration · 1 December 2025Plug-in integration allowing WooCommerce and WordPress stores to accept payments via Sokin's Checkout with reduced processing fees and multi-currency settlement.
• Manchester UnitedflagshipStrategic or Co-development Partner · 14 August 2025Multi-year agreement making Sokin Manchester United's Official Global Business Payment Solutions Partner. Sokin provides its global business payments platform to power seamless, efficient international B2B transactions across the club's AP, AR and treasury operations.
• Adobe Commerce / MagentocoreTechnology or Integration · 1 August 2025Plug-in integration for Adobe Commerce and Magento stores enabling global payment acceptance with multi-currency checkout and settlement.
• The British & Irish Lions Men's TeamflagshipStrategic or Co-development Partner · 24 June 2025Sokin became the Official Global Payments Partner of the Qatar Airways British & Irish Lions Men's Tour to Australia 2025, providing cross-border financial solutions to manage complex tour operations and international financial requirements across multiple jurisdictions.
• Excel LondonminorGTM or Marketing Partner · 8 April 2025Sokin became the Official Global Payments Partner of Excel London, the major UK events venue.
• Nottingham Forest FCcoreGTM or Marketing Partner · 7 March 2025Named Official Global Business Payments Partner of Nottingham Forest Football Club (Premier League); used to manage international payments including player transfers and other cross-border business operations.
• Settle Group AScoreStrategic or Co-development Partner · 9 December 2024Strategic acquisition of Norwegian fintech Settle Group AS (December 2024) for an undisclosed amount; obtained a European EMI license to expand Sokin's European regulatory footprint.
• QuickBookscoreTechnology or IntegrationNative accounting integration with automated daily bank-feed sync to QuickBooks to eliminate manual reconciliation and multi-currency bookkeeping.
• XerocoreTechnology or IntegrationNative accounting integration with automated daily bank-feed sync to Xero.
• NetSuitecoreTechnology or IntegrationNative accounting integration with automated daily bank-feed sync to NetSuite.
• Sage (Intacct and Business Cloud)coreTechnology or IntegrationNative accounting integrations with Sage Intacct and Sage Business Cloud including automated daily bank-feed sync.

Scale indicators10 records

Recent moves7 records

Expansion highlights9 records

Direct peers

• Wise: UK-headquartered multi-currency account and cross-border payments specialist; directly comparable to Sokin on multi-currency wallets, FX, and global payouts for businesses and individuals. Sokin is positioned as a faster, more localized alternative for B2B use cases.
• Airwallex: Australia-founded cross-border payments and treasury platform offering multi-currency accounts, FX, batch payments, and embedded APIs to global businesses. Sokin explicitly benchmarks card-processing pricing against Airwallex, indicating head-to-head competition.
• Payoneer: Global B2B cross-border payments and multi-currency accounts provider for SMBs, marketplaces, and freelancers. Sokin competes with Payoneer on multi-currency receiving accounts and international payouts for SMB and platform use cases.
• WorldFirst: Ant Group-owned cross-border B2B payments and FX platform for SMBs and ecommerce merchants. Competes with Sokin on multi-currency accounts, FX, and international payouts, particularly in the UK, EU, and APAC.
• Nium: Singapore-headquartered global payments network offering real-time cross-border payouts, multi-currency accounts, and embedded BaaS APIs. Closely comparable to Sokin's Platform/API and global payments products.

Broad incumbents

• Stripe: Global internet-wide payment processing incumbent. Sokin's Checkout, Payment Links, and ecommerce gateway compete with Stripe's core product, and Sokin explicitly benchmarks its card processing pricing against Stripe.
• PayPal: Consumer- and merchant-payments incumbent with cross-border B2B capabilities (including PayPal World and Xoom). Former PayPal executives (Gary Marino, Mark Britto) sit on Sokin's board, and Sokin explicitly benchmarks its card pricing against PayPal.
• Adyen: Global unified commerce payments platform. Adyen is now a Sokin's named strategic technology partner for US ecommerce and treasury; both overlap in global payment acceptance while Sokin layers multi-currency accounts, FX, and treasury on top.

Emerging players

• Brex: All-in-one corporate card and business banking platform with growing cross-border and FX capabilities. Comparable as a multi-product B2B financial platform targeting global SMB and enterprise clients.
• Circle: USDC issuer and stablecoin-based cross-border payments infrastructure provider. Directly comparable to Sokin's Genpaid-acquired multichain stablecoin stack and hybrid finance strategy across USDC, EURC, and PYUSD.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/SokinGlobal
• YouTubeyoutube.com/@sokin
• Facebookfacebook.com/sokinnet
• LinkedInlinkedin.com/company/sokin
• Instagraminstagram.com/sokinpays

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds6 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sokin