A FinTech company backed early on by Manchester United legend Rio Ferdinand has secured a $100 million (£73m) long-term debt facility from Oxford Finance.
The profitable business payments company only announced a £38m Series B fundraise in December – led by Prysm Capital – which valued it at $300m.
Its revenues increased 100% year-on-year in 2025 and are up 8x since 2022.
Sokin was unveiled as United’s official global business payment solutions partner in August.
The new facility will accelerate Sokin’s expansion across North America, Asia, the Middle East and South America, and fast-track the acquisition of further regional licenses, banking partnerships and global infrastructure scaling.
Additionally, investments will fund the development and launch of new products, including embedded payments capabilities.
“This capital positions us to own embedded payments as the infrastructure layer,” said Vroon Modgill, CEO and founder of Sokin. “Companies need payments integrated into workflows, not merely added on. They seek fewer vendors and fewer bottlenecks.
“The companies poised for growth are those that offer a full-stack payments and treasury operating system. This is what we’re building, and we’re grateful to have Oxford as a partner to help us realize this vision.”
Sokin has built a comprehensive platform that streamlines cross-border accounts payable, receivable and treasury operations for global businesses. The company 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.
“Oxford Finance provides structured growth capital to technology companies across growth stages, backing companies with strong market positions and clear paths to value creation,” said Austin Szafranski, executive director at Oxford Finance.
“Sokin’s platform, leadership team, and international footprint gives us confidence in its ability to execute as demand for integrated payments solutions continues to expand. We’re excited to partner with the Sokin leadership team and support their continued global expansion.”
Headquartered in the UK, the company has offices in Australia, United States, Canada, United Arab Emirates, Singapore, Mexico, Norway and India.
“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,” said Tom Steer, CFO. “We’re delighted to partner with the Oxford team and look forward to building a long-term strategic partnership.”