We’re with the founder of a fintech platform reshaping business payments. Since 2019, the company has scaled to process over $8 billion annually and just closed a $50 million Series B, valuing it at over $300 million. We’ll discuss the strategy behind this growth, how they secured backing from investors like Prysm Capital, and their plans for global expansion.
Congratulations on the $50M Series B. Given your 100% year-on-year revenue growth, what key operational milestones convinced Prysm Capital to lead the round, and how did you articulate the company’s path to its new $300M valuation during those discussions? Please share some details from your pitch.
The 100% year-on-year revenue growth opened the door, but to convince Prysm Capital, we had to showcase the resilient infrastructure behind it. Our pitch focused on our proven ability to handle over $8 billion in complex payments annually. We articulated a clear path from that solid foundation to market expansion. It was this story of operational strength, not just growth metrics, that secured the round and our $300 million valuation.
It’s impressive to see continued backing from investors like Morgan Stanley and industry veterans like Gary Marino. Beyond the revenue figures, what specific platform achievements or strategic developments gave them the confidence to reinvest in this round? Walk me through a key conversation that solidified their renewed support.
Retaining the confidence of investors like Morgan Stanley and industry leaders like Gary Marino is about demonstrating a clear, forward-looking vision. Beyond the numbers, our conversations centered on the strategic evolution of our platform, particularly our move into embedded solutions. They reinvested because they see we’re building a foundational financial operating system for global businesses, not just a simple payment tool.
Your expansion plan targets Asia, the Middle East, and South America. What unique market demands in these regions drove this specific focus, and what are the first operational steps you’ll take with this new capital? Could you detail your step-by-step strategy for securing local banking partnerships?
Our expansion into Asia, the Middle East, and South America is driven by clear market demand. Businesses there are expanding rapidly but are held back by fragmented financial systems. Our first step with this new capital is to secure the local licenses and banking partnerships that are essential for operating in these regions. It’s about building a trusted, local presence to serve a global need.
You plan to advance your embedded solutions and enhance accounts payable/receivable capabilities. How will these upgrades specifically address the pain points of your business clients, who process over $8 billion annually? Please describe a ‘before and after’ scenario for a typical client using these new features.
For our clients, international AP/AR is a huge pain point. Before, they were juggling multiple systems and slow, manual processes. The ‘after’ we’re building embeds payments directly into their workflow. A global invoice can be paid with a single click, and incoming funds are reconciled automatically. This transforms their finance function by providing real-time visibility and eliminating tedious manual work for their teams.
Since founding Sokin in 2019, you’ve rapidly scaled to offer transfers in over 70 currencies. Looking back, what was the most pivotal decision that fueled this level of growth, and how does this Series B funding round set the stage for the next evolution of your original vision?
Looking back, our most pivotal decision was focusing exclusively on the B2B cross-border space from day one. This allowed us to build an infrastructure robust enough for our current scale. This Series B is the catalyst for the next phase of that vision. We are now accelerating our evolution from a payments provider into a fully embedded financial platform for our clients worldwide.
What is your forecast for the global business payments industry?
The future of business payments is invisible. The entire process will become embedded within the software tools that companies already use to run their operations. The concept of actively ‘making a payment’ will fade away. The market leaders will be those who provide the most reliable and seamless infrastructure that makes global commerce feel effortless and local.
