Morgan Stanley Expansion Capital acquires stake in fintech firm Sokin, propelling global growth

Morgan Stanley Expansion Capital has taken a significant step in the fintech space by acquiring a stake in the UK-based payments firm Sokin. This strategic investment marks a pivotal moment for Sokin, promising to accelerate its product development and support its ambitious global expansion plans. The acquisition will provide Sokin with the necessary capital to enhance its growth trajectory, allowing it to maintain its operational independence while leveraging Morgan Stanley’s expertise.

Investment set to boost Sokin’s global footprint and product offerings

Sokin, founded in 2019, has made a mark with its vision of eliminating the complexities associated with international payments. The company enables businesses to transfer, hold, and exchange over 100 currencies through a single platform, featuring a multi-currency International Bank Account Number (IBAN) and local currency accounts. Currently, Sokin manages over $2.5 billion in transactional volume annually, serving a diverse clientele from freight and logistics companies to Premier League football clubs.

Morgan Stanley Expansion Capital, the private investment arm of Morgan Stanley Investment Management, led the acquisition, underscoring its commitment to supporting high-growth technology and fintech ventures. This investment will bolster Sokin’s capacity to expand its product offerings and extend its market reach.

Notable investors join the Sokin journey

In addition to Morgan Stanley Expansion Capital, the investment round includes prominent figures and firms. Gary Marino, former Chief Commercial Officer at PayPal, will join Sokin’s Board. Mark Britto, ex-Chief Product Officer at PayPal, and Aurum Partners, affiliated with the owners of the San Francisco 49ers, are also part of this strategic investment. Existing investor Rio Ferdinand, the former England and Manchester United defender, continues to back the company.

Expert opinions highlight confidence in Sokin’s potential

Vroon Modgill, CEO and Founder of Sokin, expressed enthusiasm about the new investment, highlighting the opportunities for accelerated growth and innovation. He noted that the partnership with Morgan Stanley Expansion Capital would provide Sokin with unparalleled resources to enhance its services and expand its global footprint.

Lincoln Isetta, Managing Director at Morgan Stanley Expansion Capital, praised Sokin’s impressive growth and capital efficiency, attributing it to a robust product and a high-achieving team. He expressed confidence that Sokin’s platform is well-positioned to simplify global payments for enterprises.

Gary Marino commended Sokin’s strategic approach and its potential to shape the future of global payments through innovative product offerings and partnerships. Brano Perkovich, Founding Partner at Aurum Partners, echoed this sentiment, emphasizing the strong foundation laid by Sokin’s team and its innovative approach.

Rio Ferdinand, reflecting on the milestone, highlighted the significance of the investment for Sokin and expressed excitement for the company’s future successes.

Morgan Stanley Expansion Capital’s commitment to high-growth sectors

Morgan Stanley Expansion Capital, known for targeting growth equity and credit investments in sectors such as technology and healthcare, brings over three decades of experience in fostering high-growth companies. With a track record of investments in over 200 companies, Morgan Stanley’s involvement is set to enhance Sokin’s capabilities and market presence.