UK FinTech Sokin secures investment from Morgan Stanley

By Gloria Methri

Investment funds managed by Morgan Stanley Expansion Capital have acquired a stake in UK-based payments FinTech Sokin.

Sokin was founded in 2019 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.

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.

The acquisition will provide significant capital to the company, accelerate its product growth plans and further global expansion. Sokin will continue operating as an independent unit and brand, and the current management team will remain to lead its expansion, with CEO Vroon Modgill maintaining a material shareholding.

Vroon Modgill, CEO and founder of Sokin said, “This investment represents an exciting new chapter for Sokin—one filled with immense opportunities for growth and innovation. By joining forces with the Morgan Stanley Expansion Capital team, we gain access to unparalleled resources and expertise, which we believe will enable us to accelerate our growth trajectory and better serve our customers.”

While Morgan Stanley Expansion Capital led the transaction, it also includes investment from prominent US investors, including Gary Marino, former PayPal chief Commercial Officer who will join the Board, Mark Britto, former PayPal chief Product Officer, and Aurum Partners. Existing investors include former England and Manchester United defender Rio Ferdinand.

Lincoln Isetta, Managing Director at Morgan Stanley Expansion Capital, said, “Sokin demonstrated outlier growth and capital efficiency that was powered by a great product and a high-achieving team. We are pleased to partner with Vroon and the Sokin team to leverage our experience working with high-performing companies, raising their first significant institutional capital. We believe Sokin has built a modern, comprehensive technology platform that is well-suited to help enterprises simplify payments across geographies. Many of the world’s largest and most sophisticated companies and sports clubs already trust Sokin to execute strategic payments. We believe Sokin is at the forefront of technology leadership in those markets.”