Sokin - Company Market Research Report

Company Overview

• Name: Sokin

• Mission: To remove the borders, barriers, and burdens associated with international payments.

• Founded: 2019

• Founder: Vroon Modgill

• Key People:

• Vroon Modgill, CEO & Founder

• James Hannaford, Chief Growth Officer

• Notable Investors joining the board include Gary Marino (Former CCO of PayPal), Mark Britto (Former CPO of PayPal), and Brano Perkovich (Founding Partner at Aurum Partners).

• Headquarters: Plata Capital Limited c/o Mishcon De Reya, Africa House, 70 Kingsway, London, United Kingdom, WC2B 6AH.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: A global payment platform that empowers businesses to manage payments swiftly, efficiently, and transparently. Allows the transfer, holding, and exchange of over 100 currencies with a multi-currency IBAN.

Products

Product Offerings

1. Global Account

• Description: Offers businesses a global account that simplifies the handling of multiple currencies.

2. Multi-Currency & FX

• Description: Enables businesses to transact, hold, and exchange over 100 currencies, delivering foreign exchange services.

3. Bulk Payments

• Description: Allows businesses to manage batch payments effectively across different regions.

4. E-commerce Payments

• Description: Tailored for eCommerce platforms to provide seamless payment processing.

5. Payment Links

• Description: Provides businesses with tools to create payment links for efficient customer transactions.

6. Balance Boosts

• Description: Improves transaction limits and financial liquidity for businesses needing extended financial capacities.

Key Features

• Supports Over 100 Currencies: Facilitates international transactions with multi-currency holding and sending options.

• Real-Time Transaction Processing: Ensures swift and efficient financial transactions for businesses globally.

• Comprehensive Platform: Allows central management of financial transactions to simplify processes across geographies.

Recent Developments

Recent Investment and Growth

• Investment by Morgan Stanley Expansion Capital:

• Description: Morgan Stanley Expansion Capital has acquired a stake in Sokin, with contributions from investors such as Gary Marino and Mark Britto. This funding aims to enhance product growth plans and fuel global expansion.

• Prominent Investors:

• Gary Marino, Former CCO at PayPal

• Mark Britto, Former CPO at PayPal

• Aurum Partners, affiliated with the owners of the San Francisco 49ers

• Existing Investor: Rio Ferdinand, former England and Manchester United defender.

New Product Launches and Features

• New Features: Enhancements are anticipated to focus on more advanced tools for cross-border payments, receipt handling, and the holding of multiple currencies.

Partnerships and Strategic Direction

• Partnership with Morgan Stanley: This strategic alliance promises access to unparalleled resources and expertise, projected to accelerate Sokin's growth trajectory and enhance its service offerings.

This report has been compiled using the available data and aims to provide a detailed and professional overview of Sokin's market position, recent advancements, and strategic focus.