Skydo has raised $10 million in a Series A funding round led by Susquehanna Asia Venture Capital, with participation from existing investor Elevation Capital.
The Bengaluru-based company serves over 30,000 Indian MSMEs, freelancers and startups across 50+ cities, processing payments in more than 32 currencies. Skydo was among the first to receive the Reserve Bank of India’s in-principle authorisation as a Payment Aggregator – Cross Border (PA-CB).
The fresh capital will be used to expand Skydo’s product suite, including global collections and payouts, card acceptance, automated compliance and developer-first APIs. The platform allows local collections across 20+ countries, strengthens global licensing, and supports deeper product and rails build-out to simplify international transactions for Indian exporters.
India aims to reach USD 2 trillion in exports by FY30, yet many MSMEs lose 3–7 per cent of revenue to hidden forex mark-ups and opaque fees, while client payments and compliance processes can take days or weeks. Skydo provides a financial operating system for exporters, offering zero-forex-fee payments, transparent flat-fee pricing, 24-hour settlement, automated compliance documents such as FIRA, and a complete accounts receivable toolkit including invoicing, payment reminders and accounting integration.
“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, Skydo.
He added, “This funding fuels our mission to build the financial operating system for global commerce, from collections, payouts, card acceptance, compliance automation, and accounting reconciliation.”
Skydo has grown fourfold in the past year and is targeting USD 5 billion in annualised payment volume within two years. Movin Jain, Co-founder, Skydo, noted that the company plans to expand its global footprint and secure payment licences in key international markets.
Bhavanipratap Rana, Investment Advisor to Susquehanna Asia VC, said Skydo’s focus on reducing costs, compliance risk, and working capital blockage sets it apart in India’s evolving cross-border payment landscape. Mridul Arora, Partner at Elevation Capital, praised the team’s execution and customer-centric approach, noting the platform has scaled rapidly while dismantling barriers to frictionless global trade.
The new funding will enable Skydo to extend local collections across Latin America, Africa, South East Asia and the Middle East, expand card infrastructure for exporters, enhance reconciliation and reporting tools, and provide APIs and webhooks for SaaS companies, marketplaces, and fintechs to integrate Skydo’s global payment rails.
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