Personal Finance

Capitalize boosts digital rollover capabilities with $19m Series B funding

Capitalize boosts digital rollover capabilities with $19m Series B funding

Capitalize, a pioneering platform designed to assist consumers and financial institutions with digital transfers of retirement assets, has successfully secured $19m in Series B funding.
Yuno and Nequi collaborate to bolster financial inclusion in Colombia

Yuno and Nequi collaborate to bolster financial inclusion in Colombia

Yuno, a leading global payments orchestration platform, has teamed up with Nequi, a prominent digital financial service in Colombia, boasting over 20 million users.
MPower Partners fuels Teamshares' expansion into Japan

MPower Partners fuels Teamshares’ expansion into Japan

MPower Partners Fund, Japan's first ESG-focused global venture capital fund, has recently extended its investment portfolio by funding Teamshares, an innovative employee ownership platform targeting small businesses.
BoBo's €6.5m seed round to enhance high-value transaction security

BoBo’s €6.5m seed round to enhance high-value transaction security

Bourgeois Boheme (BoBo), a trailblazing FinTech firm based in Vilnius, has successfully closed a seed funding round of €6.5m.
Wealthify revolutionises FinTech with new in-house developed platform

Wealthify revolutionises FinTech with new in-house developed platform

Wealthify, a distinguished player in the savings and investment sector, has introduced its advanced proprietary platform, marking a significant leap in its technical and...
EarnUp revolutionizes financial wellness with AI Advisor

EarnUp revolutionizes financial wellness with AI Advisor

EarnUp, a leader in financial wellness technology, has introduced AI Advisor, a groundbreaking product set to transform the way financial institutions interact with consumers.
WealthBlock has unveiled a raft of changes to its all-in-one platform for global asset managers.

WealthBlock unveils upgraded all-in-one platform for global asset managers

WealthBlock has unveiled a raft of changes to its all-in-one platform for global asset managers. The updated product is set to empower asset managers to...
Investment funds managed by Morgan Stanley Expansion Capital have acquired a stake in UK headquartered payments business Sokin, marking an exciting new chapter for the fast-expanding fintech firm. The acquisition will provide significant capital and accelerate its product growth plans and further global expansion. The transaction is constructed to provide investment to the company to support the speed and breadth of its growth. Sokin will continue operating as an independent unit and brand, and the current management team will remain to lead its expansion, with CEO Vroon Modgill maintaining a material shareholding. Whilst Morgan Stanley Expansion Capital has led the transaction, it also includes investment from prominent US investors including Gary Marino, former Chief Commercial Officer at PayPal who will join the Board, Mark Britto, former Chief Product Officer at PayPal, and Aurum Partners, the investment fund affiliated with the owners of the San Francisco 49ers and other strategic LPs. Existing investors in Sokin include former England and Manchester United defender Rio Ferdinand. Sokin was founded in 2019 with a simple vision to remove the borders, barriers, and burdens associated with international payments. Today it enables global businesses to transfer, hold and exchange over 100 currencies with its multi-currency IBAN and local currency accounts – all through one comprehensive platform. Sokin enables more than $2.5bn in transactional volume per year, with further rapid growth anticipated. It supports businesses across a wide range of verticals, from freight and logistics - to Premier League football clubs, enabling them to manage global payments and financials with speed, efficiency, and transparency. Vroon Modgill, CEO & Founder of Sokin, said: “This investment represents an exciting new chapter for Sokin - one filled with immense opportunities for growth and innovation. By joining forces with the Morgan Stanley Expansion Capital team, we gain access to unparalleled resources and expertise which we believe will enable us to accelerate our growth trajectory and better serve our customers.” Lincoln Isetta, Managing Director at Morgan Stanley Expansion Capital, said: “Sokin demonstrated outlier growth and capital efficiency that was powered by a great product and a high achieving team. We are pleased to partner with Vroon and the Sokin team to leverage our experience working with high-performing companies raising their first significant institutional capital. We believe Sokin has built a modern, comprehensive technology platform that is well suited to help enterprises simplify payments across geographies. Many of the world’s largest and most sophisticated companies and sports clubs already trust Sokin to execute strategic payments and we believe Sokin is at the forefront of technology leadership in those markets.” Gary Marino, tech investor and former Chief Commercial Officer at PayPal, said: “Sokin has developed an impressive platform powered by tactical licensing and partnerships ripe for further product and market expansion. We’re excited about how Sokin’s products will shape a new future for global payments.” Brano Perkovich, Founding Partner at Aurum Partners, said: "Sokin's innovative approach and talented team have laid a strong foundation for success. We're thrilled to join forces with Vroon and the Sokin team to revolutionize the global payments landscape." Rio Ferdinand, said: “This is a huge moment for the team at Sokin and a testament to the product and business they’ve built up. I’m excited to see the business go from strength to strength.” Ends About Sokin Sokin was founded in 2019 with a simple vision to remove borders, barriers, and burdens associated with international payments. Today it enables global businesses to transfer, hold and exchange over 100 currencies with its multi-currency IBAN and local currency accounts – all through one comprehensive platform. It supports businesses across a wide range of verticals, from freight and logistics through to Premier League football clubs, enabling them to manage global payments and financials with speed, efficiency, and transparency. Sokin’s dedication to improving financial efficiencies for global businesses has already led to more than $2.5bn in transactional payment volume per year.

TotallyMoney launches revolutionary tool to aid financially under-served UK adults

TotallyMoney has recently launched an innovative open banking tool. This tool is designed to provide customers with live, actionable insights into their affordability, enabling them to enhance their chances of securing better financial offers.
Open Payment Technologies Ltd, a leading provider of cutting-edge FinTech solutions, has announced the launch of its new digital wallet app, Kuady.

Open Payment Technologies Ltd launches digital wallet app to transform financial management

Open Payment Technologies Ltd, a leading provider of cutting-edge FinTech solutions, has announced the launch of its new digital wallet app, Kuady.
Bling secures $12m in Series A to expand its pioneering family Super-App

Bling secures $12m in Series A to expand its pioneering family Super-App

Bling, the Europe-based startup known for its innovative digital solutions for families, has successfully secured $12m in its latest Series A funding round.

News Stories

FinTech investment soars to $2.03bn in powerful week for the sector

There was a grand total of $2.039bn raised across FinTech deals this week, with FinTech Global reporting on 27 key rounds. This funding haul...
Increase launches FDIC-member bank for FinTech builders

Increase launches FDIC-member bank for FinTech builders

Increase, a banking infrastructure and API provider used by FinTech companies including Gusto, Ramp and Stripe, has launched Increase Bank, an FDIC-member banking institution...

Ortec Finance: fixing the climate risk gap in portfolios

As climate risk climbs the agenda for pension funds, insurers and asset managers, investors are seeking to embed climate considerations across the entire investment...
KYCP moves to fix broken onboarding with COT 2.1.6

KYCP moves to fix broken onboarding with COT 2.1.6

Client onboarding remains one of the most friction-heavy stages in the compliance lifecycle, and abandoned or error-ridden applications carry a real cost for regulated...
WealthReach buys AdvisorRankings to boost AI search visibility

WealthReach buys AdvisorRankings to boost AI search visibility

WealthReach, an AI-powered organic growth platform serving registered investment advisors (RIAs) and wealth management firms, has acquired AdvisorRankings, an agency specialising in SEO and...

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