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Sokin scores investment from Rio Ferdinand

Sokin scores investment from Rio Ferdinand

Former England international soccer player Rio Ferdinand has invested in global currency account startup Sokin.

Ferdinand, capped 81 times by the England national football team, is one of the first outside investors in the firm, which is gearing up for launch later this year.

Starting in June 2021, the company intends to offer consumers unlimited international money transfers and payments via a P2P 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,” says 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.”

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 intends to work with 35 different currencies and scale to offer services in over 200 countries.

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