Sokin lands €83 million debt facility to scale its payments platform
Sokin, a London-based business payments company, has secured a €83 million (about $100 million) long-term debt facility from Oxford Finance LLC, strengthening its balance sheet as it accelerates expansion across North America, Asia, the Middle East, and South America. The company said the financing will also support the acquisition of additional regional licenses, the build-out of banking partnerships, and continued investment in global infrastructure.
The facility comes shortly after a period of active fundraising for the company. Sokin raised nearly €60 million across 2025, including a €42.9 million Series B in December 2025 led by Prysm Capital, and €14.4 million earlier in January 2025. The new debt package adds non-dilutive capital aimed at supporting growth initiatives without further equity issuance.
Betting on embedded payments as the next infrastructure layer
Vroon Modgill, CEO and founder of Sokin, framed the funding as a push to deepen the company’s role in embedded finance—where payment capabilities are integrated directly into software platforms and business workflows.
“This capital positions us to own embedded payments as the infrastructure layer,” Modgill said, arguing that businesses increasingly want payments integrated into operations rather than handled as an add-on. He described the market direction as a shift toward fewer vendors, fewer bottlenecks, and more unified platforms that combine payments with treasury and operational tooling.
Alongside geographic expansion, Sokin said it plans to use the proceeds to develop and launch new products, including additional embedded payments capabilities, and to scale the infrastructure that underpins its international money movement services.
Debt capital reflects a more selective funding market
The financing arrives as FinTech funding remains more cautious than in prior cycles. According to Crunchbase data cited in the source material, the number of FinTech deals fell 23% in 2025, a decline attributed to investors concentrating capital in companies with proven business models and clearer paths to profitability.
Sokin said it achieved 100% year-over-year revenue growth while maintaining profitability—metrics that can make debt financing more accessible and attractive, particularly as lenders and investors prioritize predictable cash flows and disciplined unit economics.
Tom Steer, CFO at Sokin, said the facility is intended to improve the company’s financing profile. “This facility strengthens our balance sheet and lowers our borrowing costs, helping ensure we can continue to deliver high-quality, cost-effective solutions to our customers,” he said, adding that the company expects a long-term partnership with Oxford Finance.
How Sokin positions itself in cross-border business payments
Founded in 2019, Sokin was built around reducing friction in international business payments. The company says its platform enables businesses to send and exchange more than 70 currencies and hold balances in 26 currencies using multi-currency IBANs and local currency accounts. The aim is to centralize cross-border accounts payable, accounts receivable, and treasury operations in a single interface.
Sokin operates both as a direct provider to business customers and as an infrastructure partner, enabling other organizations to offer its payment capabilities to their own end users through embedded finance. The company reports a customer base spanning multiple verticals, including freight and logistics, as well as sports organizations such as Premier League clubs.
Oxford Finance backs growth-stage infrastructure plays
Oxford Finance LLC, which specializes in structured growth capital for technology companies, said the decision reflects confidence in Sokin’s leadership and international footprint.
Austin Szafranski, Executive Director at Oxford Finance, said the lender views demand for integrated payments solutions as a continuing trend. He cited the company’s platform and market position as factors supporting the financing, and said Oxford Finance is backing Sokin as it executes its global expansion plans.
Broader context: capital flows into European payments infrastructure
Sokin’s deal also fits a broader pattern in European payments and FinTech infrastructure: fewer but larger checks for established platforms, alongside smaller rounds for niche or regulation-driven innovation. Recent examples cited include Germany-based Mondu, which secured a €100 million debt facility from J.P. Morgan Payments to support European expansion.
Meanwhile, earlier-stage startups have continued to raise equity for specialized infrastructure. Amsterdam-based Klearly raised €12 million in Series A funding to develop in-person payment infrastructure for restaurants and hospitality operators, while Madrid-based Devengo closed a €2 million pre-Series A to build account-to-account and instant payment infrastructure aligned with the EU’s Instant Payments Regulation.
Together, these disclosed rounds point to roughly €114 million in funding flowing into European payments and payments-adjacent infrastructure during 2025–2026, illustrating a bifurcated market: scaled providers attract sizable debt packages, while targeted equity rounds support emerging use cases and compliance-led product development.
What to watch next
The key near-term indicators for Sokin will be the pace at which it secures additional licenses and banking partnerships in new regions, as well as how quickly it can translate the debt financing into expanded distribution for its embedded payments offering. In a market increasingly focused on efficiency and integrated workflows, execution—rather than fundraising alone—will likely determine whether the company can convert its global ambitions into durable market share.
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