Skydo Secures $10 Million to Transform Cross-Border Payments for Indian Exporters
Bengaluru-based cross-border payments platform Skydo has raised $10 million in a Series A funding round, giving the company fresh momentum to strengthen its zero-forex-fee payment solutions for Indian exporters. The round was led by Susquehanna Asia Venture Capital, with participation from long-time supporter Elevation Capital.
Skydo, which already serves more than 30,000 MSMEs, freelancers and startups across over 50 Indian cities, is rapidly emerging as one of the most important homegrown players in global financial infrastructure. Its fast-growing customer base indicates how strongly India’s export ecosystem needs transparent, fast and affordable cross-border payment services.
Adding to its credibility, Skydo is among the first companies to receive in-principle authorisation from the Reserve Bank of India as a Payment Aggregator – Cross Border (PA-CB), placing it in a league that very few fintechs have managed to enter.
Building a New-Age Financial Operating System for Exporters
Skydo positions itself not merely as a payments platform but as a financial operating system designed for Indian exporters of all sizes. The company’s core appeal lies in its promise of zero forex fees and a transparent flat pricing structure—two aspects that have long frustrated Indian businesses receiving international payments through traditional channels.
What Skydo Offers to Exporters
Skydo provides exporters a complete suite of tools that streamline their global business operations. Its features include:
- Local collection accounts in multiple countries
- Acceptance of payments in over 32 currencies
- Zero forex fees with predictable flat charges
- 24-hour settlement for faster working capital access
- Automated generation of compliance documents like FIRA
- Accounts receivable tools including invoicing, reminders, and accounting integration
This allows exporters—from solo freelancers to fast-scaling startups—to manage every financial touchpoint in one place without the delays, losses and complications of conventional bank-driven processes.
The $10 Million Plan: Expanding Skydo’s Global Network
With the newly secured funding, Skydo is preparing for aggressive expansion across key international markets. The company’s immediate plan is to scale its local collection network across more than 20 countries in Latin America, Africa, Southeast Asia and the Middle East.
Skydo’s Growth Strategy Includes:
- Securing new regulatory licences in high-priority markets
- Enhancing card acceptance infrastructure through its InstaLinks product
- Building stronger compliance and reconciliation features
- Expanding developer tools such as APIs and webhooks
- Powering SaaS companies, fintech platforms and marketplaces with integrated cross-border payment solutions
By strengthening its global presence, Skydo aims to help Indian exporters collect payments locally in more regions, reducing costs, improving settlement time and unlocking new market opportunities.
Aiming for $5 Billion in Annualised Payment Volume
Skydo has reportedly grown fourfold in the last year alone, supported by rising demand for transparent and fast cross-border payment services. With this new wave of funding, the company is now targeting $5 billion in annualised payment volumes within the next two years.
The co-founders emphasise that India has the potential to become a global hub for financial infrastructure, backed by a strong talent pool, regulatory clarity and advanced compliance capabilities. Skydo aims to be at the forefront of this movement.
The Founders’ Vision: Global Financial Infrastructure Built from India
Co-founder and CEO Srivatsan Sridhar said the company’s mission is to empower Indian exporters with world-class payment infrastructure created in India for the world. He explained that Indian businesses are increasingly global, and they deserve payment systems that match their ambition.
He added that this funding round will fuel Skydo’s efforts to build a full-spectrum financial operating system for global commerce. This includes collections, payouts, card acceptance, compliance automation and accounting reconciliation—all designed to remove friction from cross-border business operations.
Co-founder Movin Jain echoed this sentiment, stating that the success of Skydo proves that India can build reliable, compliant and globally competitive financial infrastructure. With international expansion on the horizon, he said the company will continue pursuing additional licences in overseas markets to strengthen its global footprint.
What Investors See in Skydo
Skydo’s investors are confident that the company is solving some of the most crucial pain points of cross-border payments, especially for exporters who struggle with hidden charges, slow settlements, compliance hurdles and working capital delays.
Bhavanipratap Rana, Investment Advisor at Susquehanna Asia Venture Capital, said the cross-border payments framework requires specialised players with strong technology and risk management systems. He emphasised that Skydo’s focus on addressing the real costs—like opacity, time delays and compliance risks—sets it apart from competitors.
Mridul Arora, Partner at Elevation Capital, highlighted Skydo’s execution speed and product focus. Having partnered with Skydo from its earliest days, Elevation Capital has seen the company grow fourfold in a single year, which Arora credits to the team’s deep customer-centric approach.
According to him, Skydo has become one of the most trusted platforms for global payments for Indian businesses, and the new investment will help the company scale even faster.
Why Skydo’s Model Matters for India’s Export Ecosystem
India’s export economy is undergoing a major transformation. Digital businesses, freelancers, service exporters and product-based companies are increasingly operating across borders. But payment systems have not always kept up with their pace and expectations.
High forex fees, unpredictable deductions, slow settlement times and complex bank-level paperwork often hurt exporters’ margins and working capital cycles. Skydo’s model eliminates many of these barriers by focusing on:
- Complete transparency
- Speed of settlement
- Strong compliance support
- Global account accessibility
- Simpler processes for exporters across sectors
This makes the platform especially attractive for MSMEs, who make up a large share of India’s export ecosystem but often lack access to world-class financial infrastructure.
The Road Ahead for Skydo
Skydo is now focused on scaling globally and becoming the go-to platform for international payments from India. Its long-term vision includes:
- Expanding global payout and collection capabilities
- Strengthening regulatory relationships in multiple countries
- Building more tools for automated accounting and reconciliation
- Offering advanced technology infrastructure to global SaaS and fintech companies
If Skydo succeeds in its mission, it could become one of the most influential financial infrastructure companies built out of India—strengthening the country’s position as a global digital powerhouse.
