Vroon Modgill

Vroon Modgill founded Sokin in London in 2019 and is its chief executive. The company started out in consumer cross-border payments before launching its business proposition in 2022, a pivot Modgill told UKTN in February was “the catalyst, everything clicked into place and we began to see significant growth.” Sokin now gives businesses multi-currency accounts, foreign exchange, payables, receivables and treasury tools on one platform, moving money in more than 70 currencies across more than 170 countries.

Revenue before headlines

In a letter published in July 2026, Modgill set out Sokin’s numbers. It generated $45m (£34m) of audited net revenue in 2025, closed the first half of 2026 at a $90m (£67m) run-rate and is tracking to more than $120m (£90m) by December. He wrote that Sokin made an operating profit in 2025, that it has spent $12m (£9m) in net cash since launching its business proposition and that the US is now its largest market, providing more than 40% of revenue.

Funding followed the growth. Sokin raised a $50m (£37.5m) Series B led by Prysm Capital in December 2025 at a $300m (£225m) valuation, with Watershed Ventures, Morgan Stanley Expansion Capital and Aurum Partners taking part. In January 2026 it added a $100m (£75m) growth financing facility from Oxford Finance and ranked 49th in the Sunday Times 100 Tech list, its second year in a row on the list.

Licenses as the moat

Modgill’s argument is that moving money across borders is limited by permission, not technology: every transfer needs a licensed entity, a bank willing to hold the funds and a rail that settles them. Sokin says it holds licenses in 36 countries, with more applications in progress. In 2026 it added stablecoin settlement and bought the fintech Genpaid in March, partnered with Adyen on a cross-border offer for US businesses in April, launched card acceptance for UK businesses in July and, in September, released a Model Context Protocol (MCP) connector that lets finance teams prepare payments through AI assistants such as Claude.

“An AI agent is only worth something if it stands on infrastructure that can act,” Modgill wrote in July.

Why it matters to UK buyers

For UK exporters, importers and companies paying staff or suppliers abroad, Sokin is an alternative to bank foreign exchange and wire transfers that puts accounts, conversion and payments in one place. Its MCP connector points to where finance software is heading: AI assistants that act on payment instructions, which will need a licensed provider behind them. Finance and ERP software vendors building agent features are likely to need partners of exactly this kind.

Modgill has built a profitable payments business that doubles revenue each year while spending little of its investors’ money, and he has now published the numbers. They give weight to his larger ambition: to be the licensed layer that AI-driven finance runs on.