Indian cross-border payments startup Skydo has secured approximately ₹90 crore (about US $10 million) in a Series A funding round to bolster its global payment solutions and expand operations, according to company disclosures and industry reporting.
The round was led by US-based Susquehanna Asia Venture Capital (SIG), with continued participation from existing backers including Elevation Capital and Eximus Ventures, funding sources said.
Founded in 2022 by Srivatsan Sridhar and Movin Jain, Skydo provides a cross-border payments platform aimed at simplifying international transactions for Indian exporters, micro, small and medium enterprises (MSMEs), freelancers and startups. The fintech claims service coverage across more than 50 cities and processing of payments in over 30 currencies.
Company executives said the fresh capital will be deployed to scale local payment collection capabilities in over 20 countries, secure additional international licences and strengthen card and compliance infrastructure to support broader market access. The funding will also underpin Skydo’s planned entry into the United States, with intentions to establish operational presence and secure local regulatory approvals.
Co-founder Movin Jain told media the investment reinforces Skydo’s confidence in pursuing global expansion and developing deeper integrations for clients engaged in cross-border commerce. The firm aims to address traditional pain points such as opaque foreign exchange costs and lengthy settlement times by offering transparent pricing, faster transactions and developer-friendly APIs.
Skydo’s CEO Srivatsan Sridhar said the company is targeting annualised payment volumes of up to $5 billion within the next two years, citing strong growth momentum and rising demand for streamlined international payment infrastructure among Indian businesses.
The latest funding brings Skydo’s total capital raised to roughly $20 million and reflects sustained investor interest in fintech platforms focused on cross-border commerce and small business financial infrastructure.
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