Skydo gets final RBI approval to operate as cross-border payment aggregator

RBI

Bengaluru-based cross-border payments platform Skydo has received final authorisation from the Reserve Bank of India to operate as a Payment Aggregator–Cross Border (PA-CB), enabling it to facilitate international payment collections for Indian exporters.

The company serves over 30,000 Indian MSMEs, freelancers and startups in more than 50 cities, allowing them to collect payments in over 32 foreign currencies.

The platform enables exporters to receive local payments from international clients, offers flat-fee pricing and provides access to compliance documentation such as Foreign Inward Remittance Certificates (FIRC), along with invoicing, payment reminders, and accounting integrations.

Skydo was founded in 2021 by Srivatsan Sridhar and Movin Jain, and is headquartered in Bengaluru. The company focuses on building cross-border payment infrastructure tailored for Indian exporters, MSMEs, and digital-first businesses, with an emphasis on regulatory compliance and risk controls.

According to the company, the final authorisation allows it to expand its product offerings and deepen its presence across additional trade corridors, including markets considered operationally complex.

Skydo said it plans to extend services beyond exports to cover imports and select domestic use cases over time.

Skydo HAS raised $20 million in funding to date, including a $10 million Series A round led by Susquehanna Asia Venture Capital with participation from Elevation Capital. The company said it is targeting annualised payment volumes of $5 billion by 2027.