Sokin will enhance global payments at Excel, soon to be Europe’s largest fully integrated events venue, by streamlining cross-border transactions, increasing efficiencies and reducing costs. Additionally, online payments to the venue will be powered by Sokin’s e-commerce gateway.
The partnership will also see promotion of Sokin to Excel’s four million annual visitors, covering over 400 events and 40,000 exhibiting companies. This includes a million international visitors, making up 25% of London’s business tourism sector.
Recently ranked ninth in the Sunday Times Tech 100, Sokin was founded in 2019 with a mission to remove the barriers, borders, and costs associated with global payments, making it easier and more affordable for businesses to move money worldwide.
James Hannaford, Chief Growth Officer at Sokin, commented: “Excel London is an iconic venue which sits at the heart of international business. This is a huge partnership for Sokin that will see us enhancing global payments for the venue and its clients while reaching millions of business visitors that walk through its doors every year.”
Headquartered in the UK, Sokin enables more than $4.5 billion in transactional volume per year. 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.
Last summer, Morgan Stanley Expansion Capital acquired a $31 million stake in the business to accelerate product growth plans and further global expansion, and this was followed by $15 million in debt funding from Blackrock in January this year. Meanwhile, existing investors in Sokin include former England and Manchester United defender Rio Ferdinand.
The collaboration begins as Excel marks its 25th anniversary in 2025 and will later this year open a 25,000sqm expansion.
Excel London CCO Simon Mills added: “With Excel hosting some of the largest and most important business events in the world, and London ranked as Europe’s number one city for FinTech, we see a hugely exciting opportunity via our partnership with Sokin to meet our mutual objectives.”
