Bengaluru-based Skydo, a platform that helps businesses make international payments, has raised $10 million in its Series A funding round. The investment was led by Susquehanna Asia Venture Capital, with existing investor Elevation Capital also taking part.
The company will use the new funding to expand into more countries, secure global licences, and strengthen its compliance and developer tools. Skydo’s goal is to handle $5 billion in payments each year within the next two years.
“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.
Skydo was created to solve long-standing issues in export payments. Today, it supports more than 30,000 MSMEs, freelancers, and start-ups across over 50 cities in India, helping them receive payments in more than 32 currencies.
Skydo was also among the first companies to get the RBI’s in-principle approval as a Payment Aggregator – Cross Border (PA-CB), a new system that is transforming how Indian exporters receive their money.
Skydo describes itself as a financial operating system for exporters. It provides local collection accounts in multiple countries, zero forex markups, simple flat-fee pricing, and fast 24-hour settlements. The platform also automatically generates compliance documents like FIRA and offers tools for invoicing, sending payment reminders, and connecting with accounting software.
Read More- Safebooks raises $15 million seed round led by 10D, Others
