Skydo has raised USD 10 million in a fresh Series A round, and this Skydo $10M funding news marks a key moment for India’s cross-border payments ecosystem. The Bengaluru-based fintech company offers a zero-forex-fee payment platform for Indian exporters. The round was led by Susquehanna Asia Venture Capital, with participation from Elevation Capital. This Skydo $10M funding news comes at a time when global payments are shifting toward transparent pricing, faster settlements and automated compliance.
Skydo serves more than 30,000 MSMEs, freelancers and startups across over 50 cities. It processes payments in more than 32 currencies and recently received the Reserve Bank of India’s in-principle authorisation to work as a Payment Aggregator – Cross Border. With this approval, the company is building rails for exporter-focused financial infrastructure at scale. The Skydo $10M funding news highlights the company’s plan to expand local collections across more than 20 new countries in Latin America, Africa, Southeast Asia and the Middle East.
Skydo enables exporters to receive payments from global clients at zero forex markups and transparent flat fees. The platform also offers a 24-hour settlement promise, along with instant compliance documentation such as FIRAs, invoicing tools, accounting integrations and automated reminders. The company aims to reduce the 3 to 7 percent revenue loss that exporters face due to hidden charges and delayed reconciliations.
The Skydo $10M funding news also shows strong investor confidence. Backers believe India has the talent and regulatory clarity to build world-class global payment rails. Skydo claims to have grown four times in the last year and aims to touch USD 5 billion in annualised payment volume in the next two years. The company competes with banks and global players like PayPal, Wise and Payoneer but positions itself as an Indian-first, compliance-focused financial operating system for exporters.
Main News Report
1. Introduction to the Skydo $10M funding news
The Skydo $10M funding news is gaining attention across startup news platforms and tech news sources because it reflects a deeper shift in India’s fintech landscape. Skydo has positioned itself at the heart of cross-border fintech innovation, where exporters demand transparent fees, predictable settlements and automated compliance. This round strengthens that position and supports Skydo’s plan to scale globally. As the startup ecosystem continues to evolve with new business funding and venture capital interest, Skydo’s growth adds to India’s emerging status as a global payments innovation hub.
2. Skydo’s Origin and Background Story
2.1 Early Vision and Founding
Skydo started with a simple observation: Indian exporters were losing significant revenue due to opaque forex fees and slow payouts. Banks used complex pricing, global platforms charged high markups and compliance often stretched across weeks. Founders Srivatsan Sridhar and Movin Jain set out to build a payments system that solved these problems directly. They wanted to create an operating system for exporters that handled everything from payments to compliance in a single place.
2.2 Setting Up the Platform
The company built its product to serve MSMEs, freelancers, D2C brands, SaaS companies and professional service exporters. Skydo focused on local collection accounts, zero forex markups, flat-fee pricing and instant reconciliation. It also added tools like invoicing and accounting integrations. These steps showed Skydo’s willingness to listen to users and shape the product based on real challenges.
2.3 Growth and Milestones
Over time, Skydo expanded into more than 50 cities across India. It processed payments in over 32 currencies and onboarded more than 30,000 exporters. The in-principle RBI approval as a Payment Aggregator – Cross Border made Skydo one of the first Indian companies with this licence. This move boosted trust among exporters and investors and set the stage for the Skydo $10M funding news.
3. Working Model and Services
3.1 How Skydo Works
Skydo enables exporters to collect payments locally from their international clients. Instead of asking clients to send money across borders through expensive banking channels, exporters can provide local account details from Skydo. Clients pay like they would pay any local vendor, and Skydo handles the currency conversion at mid-market rates with zero forex markup.
3.2 Revenue Model
Skydo charges a transparent flat fee per transaction. There are no hidden charges and no margin added to the exchange rate. The company earns from predictable fees rather than from spread-based markups. This model aligns with exporters’ interests and builds trust in the platform.
3.3 Key Features of the Platform
Skydo’s product includes 24-hour settlement, instant creation of compliance documents, invoicing, payment reminders and accounting integrations. Exporters receive detailed payment trails, making bookkeeping easier. This structure solves the long-standing challenges of slow documentation and hidden fees.
4. Problems Skydo Solves
4.1 Hidden Forex Charges
Traditional banking channels involve invisible markups that can go up to 7 percent. Skydo eliminates those charges entirely.
- Delayed Settlements: Banks can take several days to process payments. Skydo settles funds within 24 hours.
- Compliance Delays: Exporters often chase FIRAs and supporting documents for weeks. Skydo produces them instantly.
- Limited Visibility: Exporters struggle with unpredictable charges. Skydo provides clear and upfront pricing.
5. Industry Growth Trends
5.1 India’s Export Push
India aims to reach USD 2 trillion in exports by FY30. Efficient payment systems are necessary to support this journey. Cross-border fintech companies are part of this shift.
5.2 Fintech Innovation and Global Commerce
The rise of fintech platforms and disruptive tech tools is reshaping global payments. Faster payouts, automated compliance and transparent pricing are becoming industry standards.
5.3 MSME and Freelancer Growth
Indian MSMEs and freelancers are expanding globally. Skydo’s model fits their need for predictable, low-cost payments.
6. Competitors in the Market
6.1 Direct Competitors
Platforms like PayPal, Wise and Payoneer compete with Skydo in global payments. These companies offer cross-border services but charge markups that reduce exporter revenue.
6.2 Indirect Competitors
Indian banks remain indirect competitors. However, their processes are slower and more manual. Skydo competes by offering compliance automation, transparent pricing and faster settlements.
7. Details of the Skydo $10M Funding News
7.1 Investors and Participation
Susquehanna Asia Venture Capital led the Series A round. Elevation Capital also joined as an existing backer. Their participation in the Skydo $10M funding news shows strong confidence in the company’s business model.
7.2 How Skydo Will Use the Funds
The funds will expand local collections to more than 20 countries. Skydo will secure new regulatory licences in priority markets and build card acceptance infrastructure using its InstaLinks product. The company will also expand developer tools such as APIs and webhooks.
7.3 Future Growth Plans
Skydo is targeting USD 5 billion in annualised payment volume within two years. Its strategy focuses on scaling global presence and improving financial automation for exporters.
8. Strategic Importance of the Skydo $10M Funding News
8.1 Strengthening Global Footprint
The new capital helps Skydo deepen its reach in markets such as Africa, Latin America and the Middle East. These markets are expanding and need reliable payment infrastructure.
8.2 Enhancing Technology and Compliance
Skydo will use the money to upgrade risk systems, build advanced reconciliation tools and improve compliance automation.
8.3 Building Developer Ecosystem
APIs and webhooks will allow SaaS companies, marketplaces and fintech platforms to integrate Skydo payment rails into their products.
9. Journey of the Founders
9.1 Srivatsan Sridhar
Srivatsan brings experience in financial systems and product management. His goal is to create global payment infrastructure from India.
9.2 Movin Jain
Movin focuses on scale, compliance and technology. He believes India has the capability to build world-class global payment tools.
10. Impact on Exporters and the Indian Startup Ecosystem
10.1 Benefits for Exporters
Exporters save on forex fees and reduce working capital delays. Automated compliance also reduces manual effort.
10.2 Influence on Indian Fintech
Skydo’s growth adds to India’s identity as a global fintech exporter. The Skydo $10M funding news boosts confidence in SaaS-led financial innovation.
10.3 Positive Ripple Effect
More platforms may emerge with similar transparency, which benefits the broader startup market.
11. Learning for Startups and Entrepreneurs
Startups can learn from Skydo’s focus on solving specific pain points. Clear pricing, user-first design, compliance automation and predictable value delivery can drive strong adoption. Growth compounds when technology solves deep-rooted industry challenges.
About Foundlanes
Foundlanes covers emerging Indian and global startups, new business ideas, startup trends, industry updates, acquisitions, funding rounds and innovation stories. Platforms like The Startups News inform founders, investors and entrepreneurs about disruptive tech, global funding movements and successful startups across ecosystems. Stories like the Skydo $10M funding news help readers follow fintech innovations shaping cross-border commerce.