Skydo Cross Border Payments- 5 Big Updates After RBI Approval & $10M Funding

Skydo focuses on making international payments easier, faster, and cheaper for Indian businesses. The company aims to remove common problems like hidden forex charges, delayed bank settlements, and complicated paperwork linked to cross-border transactions.

Skydo Helps Indian Businesses Receive Global Payments Easily

Founded in 2022 by Movin Jain and Srivatsan Sridhar, Skydo allows businesses to create virtual international bank accounts in just a few minutes. These accounts help Indian users receive payments locally in currencies such as USD, EUR, GBP, CAD, AUD, and SGD.

The startup currently serves more than 40,000 businesses across over 50 cities in India. It supports collections from more than 150 countries and handles payments in over 32 currencies. According to the company, it processes more than $850 million in payment volume every year and plans to reach $5 billion by 2027.

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Skydo follows a transparent pricing model. Instead of charging percentage-based fees like many traditional platforms, the company charges fixed fees. Payments up to $2,000 cost $19, payments between $2,001 and $10,000 cost $29, while larger transactions are charged at 0.3%.

The company also says it offers zero forex markup by using live mid-market exchange rates, helping businesses save money on international transfers.

RBI and GIFT City Approvals Strengthen Skydo’s Position

Skydo recently received final authorization from the RBI to operate as a Payment Aggregator-Cross Border (PA-CB) platform for inward export payments. This approval allows the company to process export-related international payments more smoothly and at a larger scale.

The startup has also received approval to support outward payments, allowing Indian businesses to pay international vendors, software companies, and overseas partners through compliant channels.

Another major achievement for the company came through its in-principle approval to operate as a Payment Service Provider (PSP) at GIFT City IFSC. With this approval, Skydo can access global financial infrastructure and expand its international payment services further.

The company plans to use this opportunity to offer multi-currency collections, merchant services, and new payment corridors for global businesses.

Skydo Raises $10 Million in Series A Funding

In December 2025, Skydo raised $10 million in a Series A funding round led by Susquehanna Asia Venture Capital. Existing investors Elevation Capital and Eximius Ventures also participated in the funding round.

With this latest investment, the company’s total funding has reached $20 million.

Skydo plans to use the fresh capital to expand into more than 20 new countries across Latin America, Africa, Southeast Asia, and the Middle East. The company is also focusing on attracting small and medium businesses in the US market.

Apart from geographic expansion, Skydo is strengthening its card payment feature called “Skydo InstaLinks.” This feature allows Indian exporters to accept international credit and debit card payments at lower costs.

The startup is also working on developer-friendly APIs and webhooks that will help SaaS companies and marketplaces integrate Skydo’s payment system directly into their platforms.

Compliance and Faster Settlements Become Key Benefits

One of Skydo’s biggest advantages is its focus on simplifying compliance for Indian exporters. International payments often involve complicated paperwork related to FEMA regulations, RBI purpose codes, GST invoices, and export documents.

Skydo automates many of these processes. The platform instantly generates FIRAs and supports automated eBRC generation, which is especially useful for exporters and Amazon Global sellers. It also offers GST-compliant invoicing features.

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The company says most payments are settled into Indian bank accounts within one business day, helping businesses improve cash flow and manage operations more smoothly.

Skydo Competes With Global Payment Platforms

Skydo is positioning itself as a cost-effective alternative to global payment companies like Payoneer, especially for Indian SaaS firms, exporters, and freelancers.

The company believes its flat-fee structure, zero forex markup, and faster compliance support can help businesses save a significant amount on international transactions compared to traditional platforms.

As India’s digital export economy continues to grow, cross-border fintech companies like Skydo are expected to play an important role in helping Indian businesses connect with global markets more efficiently.