British FinTech firm Sokin raises €42.9 million to expand global payments and treasury infrastructure

London-based fintech firm Sokin has secured €42.9 million in Series B funding, a move that signals robust investment in European payment infrastructure. This investment round, led by Prysm Capital, will fuel Sokin’s expansion into global payments, multi-currency accounts, and cross-border treasury infrastructure, strengthening its position in the rapidly evolving fintech landscape. This funding demonstrates confidence in the UK fintech sector and its potential for global reach. Sokin’s Series B round involved participation from Watershed Ventures and investment funds managed by Morgan Stanley Expansion Capital, among others, including former PayPal executives. The company’s platform enables businesses to send and exchange over 70 currencies, supporting balances in 26 currencies. Sokin's infrastructure allows for cross-border accounts payable, receivable, and treasury operations, streamlining international transactions for businesses. The investment in Sokin, alongside other European fintechs, such as Navro, Fnality, Payrails, Two, and Devengo, highlights a broader trend of modernizing payment and treasury infrastructure. These companies collectively secured approximately €215 million in funding, underscoring Europe's commitment to advancing its digital payment capabilities. This shift towards improving payment systems has implications for businesses involved in international trade and financial operations, offering increased efficiency and reduced costs. Sokin's recent funding follows its December 2024 acquisition of Settle Group and a €14.4 million debt round in January 2025. This latest investment will allow Sokin to further develop its platform and capitalize on the growing demand for efficient cross-border payment solutions. The company's focus on removing barriers to international payments positions it well for future growth in the global market.