Skydo, a Bengaluru-based cross-border payments platform, has received final authorisation from the Reserve Bank of India to operate as a Payment Aggregator–Cross Border. The approval allows the company to provide regulated cross-border payment services to Indian exporters under the RBI’s PA-CB framework.

The authorisation places Skydo among the early fintech firms to receive a final licence under the new regulatory structure for cross-border payment aggregators. The framework is aimed at bringing greater transparency, compliance and oversight to international payment flows originating from India.

According to the company, the licence strengthens its ability to offer compliant and technology-led payment infrastructure to Indian micro, small and medium enterprises, freelancers and digital-first businesses with overseas clients.

Skydo currently serves more than 30,000 Indian businesses and professionals across over 50 cities. The platform supports collections in more than 32 foreign currencies, allowing exporters to receive payments locally from international customers.

The company operates at a time when India is targeting a sharp increase in goods and services exports by the end of the decade, with MSMEs and independent professionals expected to play a central role. Regulatory clarity around cross-border payments is seen as a key enabler for this growth.

With the PA-CB licence, Skydo can directly manage payment flows, compliance processes and settlement timelines under RBI supervision, rather than operating through intermediary arrangements.

Skydo: Platform Features

Skydo’s platform allows exporters to collect payments from overseas clients using local payment methods in multiple countries. The company follows a flat-fee pricing model and states that it does not apply mark-ups on prevailing foreign exchange rates.

The system also provides exporters with access to compliance documentation such as Foreign Inward Remittance Certificates through integrations with partner banks. In addition, the platform offers accounts receivable tools including invoicing, payment reminders and ledger management.

Integration options with enterprise resource planning and accounting systems are also available, allowing businesses to manage cross-border receivables within existing workflows.

Company executives said the final approval reflects the regulator’s assessment of Skydo’s risk controls, systems and compliance processes. The PA-CB framework places specific responsibilities on licensed entities around anti-money laundering checks, transaction monitoring and customer due diligence.

By operating as a regulated entity, Skydo gains greater control over customer experience and service quality while aligning with evolving regulatory expectations for cross-border financial flows.

The company said the licence will also support deeper partnerships with global banks and payment networks as it expands transaction volumes and coverage.

Expansion Plans

With regulatory clearance in place, Skydo plans to expand its product offerings and add new international trade corridors. The company has previously focused on enabling payment acceptance in regions that are considered complex for Indian exporters, including parts of Africa.

Additional services such as analytics and payment tracking are expected to be scaled as more businesses use the platform for regular export collections.

Skydo has raised a total of USD 20 million to date, including a USD 10 million Series A round led by Susquehanna Asia Venture Capital, with participation from Elevation Capital.

India’s cross-border payments landscape has been undergoing regulatory changes as transaction volumes increase and new digital export models emerge. The PA-CB framework is intended to create a structured environment for fintech firms operating in this space.

Skydo has said it is targeting significant growth in annualised payment volumes over the coming years, driven by rising demand from exporters and freelancers for faster, predictable and compliant global payment solutions.

The final RBI authorisation is expected to play a central role in supporting that expansion while maintaining regulatory oversight and customer trust.