Skydo, a Bengaluru-based cross-border payments platform that serves Indian exporters, has raised USD 10 million in Series A funding. The round is led by Susquehanna Asia Venture Capital, with participation from existing investor Elevation Capital. The company currently supports more than 30,000 MSMEs, freelancers and startups across over 50 cities, enabling payments in more than 32 currencies.
The funding arrives at a time when India is pushing toward an ambitious USD 2 trillion export target by FY30. Exporters across sectors continue to face issues such as hidden forex charges, delays in settlements and lengthy compliance requirements. These inefficiencies often result in revenue losses and operational delays for small and mid-sized businesses.
Skydo was among the first platforms to receive the Reserve Bank of India’s In-Principle Authorisation under the Payment Aggregator – Cross Border framework. The company positions itself as a transparent alternative to traditional banks and global money transfer platforms that charge variable or high fees.
Export Pain Points
Indian exporters rely largely on banks or global platforms like PayPal, Wise and Payoneer. Banks tend to follow manual processes and levy opaque charges, while global platforms may deduct up to 10 percent of invoice value. Users say this affects predictable cash flow and reduces competitiveness in global markets.
Skydo offers local payment collection for clients in multiple countries, zero forex fees, flat pricing and 24-hour settlements. The platform also generates compliance documents such as FIRA instantly and provides invoicing, reminders and accounting integrations within a single interface. Exporters using Skydo say transparency and predictable pricing remain its strongest advantages.
Several early customers note the ease of eliminating the need to negotiate exchange rates with banks. They describe the platform as cost-efficient and highlight its focus on customer experience, often citing direct engagement from the founding team during early product development.
Platform Growth Plans
The company grew four times over the past year and aims to process USD 5 billion in annualised payment volume within two years. Skydo’s leadership believes India is now positioned to build globally competitive financial infrastructure, strengthening both technology and compliance capabilities.
The newly raised funds will support international expansion, including enabling local collection accounts across regions in Latin America, Africa, Southeast Asia and the Middle East. Skydo also plans to secure additional global licences to operate in major markets, expand its card acceptance infrastructure and improve its compliance automation suite to reduce exporters’ back-office overheads.
A developer-focused layer is also planned, offering APIs and webhooks for SaaS platforms, marketplaces and fintech companies that want to embed global payment capabilities within their products. The company says this integration-first approach will help build a financial operating system designed specifically for Indian exporters.
Industry Context Grows
Skydo’s expansion coincides with a policy shift in India’s cross-border payments ecosystem. The introduction of the PA-CB framework places a higher emphasis on transparency, risk controls and operational robustness. Investors expect specialised players with strong technology capabilities to lead the next phase of growth in the B2B payments sector.
The company holds SOC 2 and ISO 27001 certifications and is empanelled as an Amazon Global Selling PSP. As India’s exporter base grows, Skydo positions its platform as a reliable and efficient alternative for businesses seeking predictable and compliant payment solutions.
