Business payments fintech Sokin is gearing up for significant international growth following a $100m (£72.5m) debt facility from Oxford Finance.
With new funding secured, Sokin aims to accelerate its expansion across North America, South America and Asia as well as acquire new regional licenses and banking partnerships.
“This capital positions us to own embedded payments as the infrastructure layer,” said Vroon Modgill, founder and chief executive 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 realise this vision.”
The debt facility comes less than two months after the firm announced a £40m Series B funding round led by Prysm Capital that valued the fintech at $300m.
“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.”
