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# Skydo Raises $10 Mn Series A to Build Global Payments Backbone for Indian Exporters
- URL: https://www.theleftshift.com/skydo-raises-10-millin-series-a-to-build-global-payments-backbone-for-indian-exporters/
- Published: 2025-12-10T09:49:18.000Z
- Updated: 2025-12-10T09:49:18.000Z
- Description: The funding will help Skydo scale its product suite and global footprint as India targets $2 trillion in exports by FY30.
- Author: The Left Shift Bureau
- Tags: Funding

Bengaluru-based cross-border payments startup 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 funding will help Skydo scale its product suite and global footprint as India targets $2 trillion in exports by FY30.

Founded to simplify international payments for Indian businesses, Skydo currently serves more than 30,000 MSMEs, freelancers, and startups across 50+ cities, enabling transactions in over 32 currencies. 

The company was among the first to receive the Reserve Bank of India’s in-principle approval under the Payment Aggregator–Cross Border (PA-CB) framework.

India’s exporters often lose between 3% and 7% of their revenue to hidden foreign exchange mark-ups, delayed settlements, and manual compliance processes. 

Skydo positions itself as a financial operating system for exporters, allowing customers to collect payments locally from overseas clients with zero forex mark-ups, flat-fee pricing, and settlement within 24 hours. 

The platform also automates compliance documentation such as FIRA and integrates invoicing, payment reminders, and accounting tools.

*"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*](https://www.linkedin.com/in/srivats80/?ref=theleftshift.com)*, 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."*

Skydo claims it grew 4X over the past year and is targeting $5 billion in annualized payment volume within the next two years. 

*“With this round, we aim to expand our global footprint and secure payment licences in key geographies,” said* [*Movin Jain*](https://www.linkedin.com/in/movinjain/?ref=theleftshift.com)*, co-founder of Skydo.*

The new capital will be used to expand local collections across 20+ countries, secure global licenses, scale card acceptance, deepen compliance automation, and launch developer-first APIs to embed Skydo’s payment rails into SaaS platforms and marketplaces.

*According to* [*Bhavanipratap Rana*](https://www.linkedin.com/in/bhavaniprataprana/?ref=theleftshift.com)*, Investment Advisor to Susquehanna Asia VC, “India's evolving cross-border payment landscape, with the introduction of the new PA-CB framework, demands high-quality, focused players with a technological edge. Skydo’s focus on solving the real costs of cross-border transactions – opacity, time, compliance risk, and working capital blockage is a clear differentiator”*.

*Talking about the investment,* [*Mridul Arora*](https://www.linkedin.com/in/aroramridul/?ref=theleftshift.com)*, Partner, Elevation Capital said, "Since partnering with Skydo at their inception, we have been incredibly impressed by the team’s speed, execution, and unwavering product focus. They have done a stellar job scaling the platform 4X in the last year alone, building what is truly a customer-centric international payments powerhouse."*