Skydo Raises $10 Million Series A to Expand Cross-Border Payments
- Bengaluru-based Skydo secures $10 Million Series A led by Susquehanna Asia VC
- Funds will expand local collections to 20+ countries across Asia, Africa, and Latin America
- Skydo serves 30,000+ MSMEs and aims for $5B annual transaction volume
Bengaluru-based cross-border payments startup Skydo has raised $10 million in a Series A funding round led by Susquehanna Asia Venture Capital, with existing investor Elevation Capital also participating. This brings the company’s total equity funding to $19.7 million, including a $5 million raise in August last year.
Founded by Srivatsan Sridhar and Movin Jain, Skydo enables exporters and small businesses to receive payments in local currencies across multiple countries, with flat-fee pricing, zero forex markups, and 24 hour settlement. The platform also simplifies compliance by automating documentation such as FIRA and offers tools for invoicing, reminders, and accounting integration.
The fresh funding will help Skydo expand local collections to over 20 new countries in Southeast Asia, the Middle East, Africa, and Latin America. Currently, the company serves over 30,000 MSMEs, freelancers, and startups across 50+ cities, processing payments in 32+ currencies. Skydo was also among the first firms to secure the Reserve Bank of India’s in-principle approval under the Payment Aggregator–Cross Border (PA-CB) framework.
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Over the past year, Skydo’s payment volumes have grown fourfold, and the company is now targeting $5 billion in annualized transactions within the next two years. The platform’s seamless payment experience and automated compliance are helping small exporters and freelancers grow internationally without the usual friction of cross-border transactions.
