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Global football icon Rio Ferdinand signs for Sokin

Rio Ferdinand invests in Sokin

Vroon Modgill- Sokin CEO

Rio Ferdinand, one of England’s most decorated footballers, is investing in fintech company Sokin and will help to support the firm’s international expansion.

LONDON, UK, February 25, 2021 / -- • Rio Ferdinand, one of England’s most decorated footballers and a global star, is investing in fintech company Sokin and will help to support the firm’s international expansion.
• Rio Ferdinand was attracted by the company’s mission to harness the latest technology to boost transparency and customer experience in the cross-border payments space and wider financial services sector.
• From June 2021, Sokin will provide a fixed-fee, subscription-based global FX transfers and payments platform; the world’s first such model.

Sokin, the new payments-focused fintech, has announced that football legend Rio Ferdinand has become a shareholder in the firm.

Ferdinand, capped 81 times by the England national team and seen as one of the country’s greatest defenders, has had no shortage of post-career opportunities but is particularly drawn by the transformative power of the fintech sector. He’s now keen to combine his punditry role at BT Sport with investments in the fast-moving technology world.

Sokin is the first global payments platform to provide a fixed-fee, subscription-based payment service for fast and cost-effective currency exchange with no hidden charges. Starting in June 2021, the company will offer consumers unlimited international money transfers and payments with no mark-up on transactions. Sokin looks to makes the process easy – from the onboarding of customers to instant payments – all in its advanced peer-to-peer mobile app.

“I’ve seen first-hand the power that digital services have brought to broadcasting and social media, helping football fans across the world stay connected to watch and discuss the sport together,” said Ferdinand.”

“I’m interested in applying the same innovation to financial services. Those working overseas and sending money back to family members and communities have really felt the pandemic, with projects cancelled and jobs lost. They usually opt to use well-known brands to send what spare money they have home, but the process is often time-consuming and expensive. The team at Sokin has worked hard to make its user experience seamless; it’s the right product to increase financial inclusivity in these tough times.”

“We’re delighted that Rio is coming onboard as one of our first investors and that he’s excited to be part of our new proposition. The team here is thrilled to be working with him,” added Vroon Modgill, CEO, Sokin.

“In 2021, there’s absolutely no reason why customers should accept additional - or hidden - commissions, unexplained costs or repeat charges. We don’t pay for every track we download or each film we stream, yet when we’re sending money or making a payment, we’re expected to accept unspecified and variable costs. Why? This has to change and so we’re changing it, putting transparency at the heart of our service.”

Ahead of launching its services later this year, Sokin has already put in place agreements with key partners, including Mastercard, in Europe, Asia, North and South America. It will work with 35 different currencies and will build up to offer services in over 200 countries.

– Ends –

About Sokin

Sokin is a global currency account provider focused on creating an open and transparent payments platform. It is are the only payment provider enabling global payments for a fixed monthly fee, giving consumers the power to make unlimited payments and transfers. There are no additional costs or hidden fees just straightforward currency exchange and money transfers, simplifying and democratising the process. Sokin was founded by Vroon Modgill in 2019, the company is headquartered in London and has 10 offices globally.

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Stephen Davie
+44 7484 730305

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