Funding · Financial Services

Skydo raises $10 million Series A

By Startup Enthusiast · 9 December 2025

What they do

Skydo is a cross-border payments platform for Indian exporters

It raised $10 million in Series A funding led by Susquehanna Asia VC

The company has grown 4X in the past year and targets $5 billion in annual payment volume

Skydo has raised $10 million in Series A funding.
The round was led by Susquehanna Asia Venture Capital.
Existing investor Elevation Capital also participated.
Skydo is a cross-border payments platform for Indian exporters.
It helps exporters collect payments from clients abroad with zero forex mark-up and flat-fee pricing.
The platform also provides invoicing, automated reminders, and accounting integration.
Skydo has received RBI in-principle authorisation as a Payment Aggregator – Cross Border (PA-CB).

Indian exporters lose 3-7% of revenue to hidden forex mark-ups and fees.
India aims to reach $2 trillion in exports by FY30.
Skydo competes with traditional banks, PayPal, Wise, and Payoneer.
The company has grown 4X in the past year and serves over 30,000 customers.

Skydo is a cross-border payments platform for Indian exporters, freelancers, and startups.
It processes payments in 32+ currencies across 50+ cities.
The platform offers local payment collection, zero forex mark-up, flat-fee pricing, and 24-hour settlement.
It generates FIRA and other compliance documents instantly.
Skydo also provides accounts receivable tools like invoicing, automated payment reminders, and accounting integration.
The company positions itself as a financial operating system for Indian exporters.

Expand local collections across 20+ countries in Latin America, Africa, South East Asia, and the Middle East.
Secure regulatory licences in key international markets.
Scale InstaLinks for card acceptance at half the cost of legacy gateways.
Enhance reconciliation and reporting tools.
Build a developer platform with APIs and webhooks for SaaS companies, marketplaces, and fintechs.
Invest in the US market and build a team there.

Susquehanna Asia Venture Capital (lead) — Investment advisor Bhavanipratap Rana is involved.
Elevation Capital (participated) — Partner Mridul Arora is involved.

Product: border payments startup
Customers: Indian MSMEs, exporters, freelancers, and startups that invoice and receive payments from overseas clients.
How it makes money: Charges transparent flat fees per transaction with zero foreign exchange markups.
What sets it apart: Provides zero forex markup with live mid-market exchange rates and automated compliance filings like FIRA.