Skydo Secures $10 Million to Boost Cross-Border Payments
Skydo, the Bengaluru-based cross-border payments platform for Indian exporters, has raised $10 million in a Series A funding round led by Susquehanna Asia Venture Capital, with participation from existing investor Elevation Capital.
The startup aims to transform how Indian MSMEs, freelancers, and startups handle international payments, promising zero forex fees and seamless cross-border transactions.
Serving Thousands of Exporters Across India
Skydo currently serves over 30,000 small and medium enterprises (MSMEs), freelancers, and startups across more than 50 cities, processing payments in over 32 currencies.
The platform recently became one of the first entities to receive the Reserve Bank of India’s in-principle authorisation as a Payment Aggregator – Cross Border (PA-CB), positioning it as a trusted solution for exporters navigating international payments.
How Skydo is Changing the Game
Zero Forex Fees and Transparent Pricing
Skydo positions itself as a financial operating system for exporters. The platform enables Indian businesses to collect payments from international clients with zero forex fees and transparent flat pricing, eliminating hidden charges and improving cash flow.
Faster Settlements and Compliance Automation
The platform offers 24-hour settlements and automatically generates key compliance documents like FIRA. It also provides a full suite of accounts receivable tools, including invoicing, payment reminders, and accounting integration, making it a complete solution for cross-border financial operations.
A Financial Operating System for Exporters
By combining payment processing, compliance automation, and accounting integration, Skydo allows exporters to focus on growth rather than navigating complex international payment processes.
Why This Funding Round Matters
The $10 million Series A investment will help Skydo scale its platform, expand to more exporters across India, and enhance features to simplify international payments.
Investors see significant potential in a market where MSMEs often struggle with high forex fees, delayed settlements, and regulatory complexities. Skydo’s zero-fee model and technology-driven approach make it a promising player in India’s fintech ecosystem.
The Future of Cross-Border Payments in India
Skydo’s innovative approach could redefine how Indian exporters handle international transactions, reduce costs, and accelerate growth. With Series A funding secured, the startup is poised to scale rapidly, becoming an essential partner for India’s growing export sector.
As global trade expands and exporters look for seamless payment solutions, Skydo aims to make cross-border payments as simple, transparent, and fast as domestic transactions.
