Skydo, a cross-border payments platform for exporters, has raised $10 million in its Series A funding round led by Susquehanna Asia Venture Capital, with participation from existing investor Elevation Capital, per an announcement.
The capital proceeds will be used to expand local collections across more than 20 new countries in Southeast Asia, the Middle East, Africa, and Latin America, the startup said in a statement.
The Bengaluru-based company currently serves over 30,000 Indian MSMEs, freelancers, and startups across 50+ cities, processing payments in 32+ currencies. Skydo has also received the Reserve Bank of India’s in-principle authorisation as a payment aggregator – cross border.
“Indian exporters are second to none in their global ambition. Skydo aims to enable them with world-class payment infrastructure built from India for the world,” 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, payouts, card acceptance, compliance automation, and accounting reconciliation.”
“With this round, we aim to expand our global footprint and secure payment licences in key geographies,” added Movin Jain, co-founder of Skydo.
The company claims to have grown 4X in the past year and is targeting $5 billion in annualised payment volume within two years.
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