Fintech Startup Skydo Raises $10 million in Series A Round

Bengaluru-based Skydo, a cross-border payments platform, has raised $10 million in a Series A funding round led by Susquehanna Asia Venture Capital.

The round also saw participation from existing investor Elevation Capital. 

The new funds will help the company expand to more regions, get global licences, and improve its compliance and developer systems as it aims to reach $5 billion in yearly payment volume within the next two years.

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“Indian exporters are second to none in their global ambition,” said Srivatsan Sridhar, Co-founder and CEO of Skydo. “This funding fuels our mission to build the financial operating system for global commerce—from collections and payouts to compliance automation and reconciliation.”

Co-founder Movin Jain said the company also plans to grow its presence worldwide and secure licences in important markets. “We’re demonstrating that India has the talent and compliance muscle to build global financial infrastructure from here, for the world,” he said.

Investors said Skydo is in a strong position to grow under the new cross-border regulations. “The PA-CB framework demands high-quality, focused players with a technological edge,” said Bhavanipratap Rana, Investment Advisor to Susquehanna Asia VC.

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Skydo was founded to fix ongoing problems in export payments. It now serves over 30,000 MSMEs, freelancers, and start-ups in more than 50 Indian cities, handling payments in 32+ currencies. It was also one of the first to receive the RBI’s in-principle approval as a Payment Aggregator – Cross Border (PA-CB), a new framework that is changing how exporters get paid.

Skydo calls itself a financial operating system for exporters. It offers local collection accounts in different countries, zero forex mark-ups, simple flat-fee pricing, and 24-hour settlements. The platform also automatically creates compliance documents like FIRA and provides tools for invoicing, payment reminders, and accounting integrations.

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