Skydo gets final RBI authorisation for cross-border payments

Skydo, a cross-border payments platform for exporters, said on Friday that it has received final approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator–Cross Border (PA-CB).

With the full licence, the Bengaluru-based payments firm said it will expand its products and extend services to more trade corridors. The PA-CB-I licence allows Skydo to process cross-border payments, mainly for inward transactions.

“Skydo has introduced several first-to-market offerings for India’s growing MSME export sector, including seamless local payment acceptance in difficult corridors such as Africa…,” the company said in a statement.

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“The RBI authorisation is a strong testament to our understanding of the cross-border payments space, compliance-first culture, secure systems, and robust risk controls,” said Awadhesh Ranjan, Head of Risk and Compliance at Skydo.

Srivatsan Sridhar, Co-Founder and CEO of Skydo, in a statement, said, “The license will help us build stronger trust with SMB and enterprise customers, global bank and payments partners as we scale our payment volumes significantly, and expand across products and corridors.”

Skydo serves more than 30,000 MSMEs, freelancers and startups across nearly 50 cities in India. It supports collections in over 32 currencies, helping exporters receive payments locally from overseas clients and settle funds quickly in india.

The platform offers flat-fee pricing without adding a margin to mid-market exchange rates. It also provides compliance tools such as instant access to Foreign Inward Remittance Certificates (FIRC) through partner banks. Skydo has expanded into accounts receivable services, including invoicing, payment reminders and integration with accounting and ERP software.

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The regulatory approval comes after Skydo raised $10 million in a Series A round led by Susquehanna Asia Venture Capital, with participation from Elevation Capital. This brings its total funding to $20 million. The company said it expects to reach $5 billion in annualised payment volumes by 2027.

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