Bengaluru-based Cross-Border Fintech Skydo Raises $10 Million in Series A Funding, Confirming Plans for US Market Entry
What is the news?
Skydo, a leading B2B cross-border payments platform, has successfully concluded a $10 million Series A funding round. The investment was spearheaded by Susquehanna Asia Venture Capital, with continued participation from existing investor Elevation Capital. This significant capital boost validates the model developed by Indian origin founders Movin Jain and Srivatsan Sridhar, who established the company in 2022 to streamline international payments for Indian businesses. Skydo currently works with over 30,000 MSMEs, freelancers, and startups, processing payments in 32 currencies.
Why is it interesting?
The true Global Indian Alpha narrative is emphasized by the company’s planned expansion. The founders confirmed that the fresh capital will be used to significantly scale the business’s global reach, specifically focusing on expanding local collection capabilities in more than 20 countries and strengthening its compliance infrastructure. Most notably, Skydo is preparing to commence operations and establish its first offices in the United States, where it will also apply for the necessary licenses to serve US customers.
This move underscores the growing trend of Indian-based Fintech innovators taking their proven technological stacks to major global corridors. By solving complex cross-border payment challenges for businesses, Skydo is demonstrating the potential of the Indian founders community to build foundational infrastructure for the international economy, a key pillar of the GIA vision.
Read more: Cross Border Payments Fintech Skydo Raises USD 10 Mn in Series A for Expansion