Funding · Financial Services

Xflow raises $16.6 Mn Series A from General Catalyst

By Startup Enthusiast · 24 February 2026

What they do

Xflow provides cross-border payments infrastructure for Indian exporters and importers

It raised $16.6 Mn in Series A led by General Catalyst, with participation from existing and new investors

The company is the first Indian fintech backed by both Stripe and PayPal Ventures

Xflow raised $16.6 Mn (₹151 Cr) in a Series A round.
The round was led by General Catalyst.
Existing investors Square Peg, Stripe, Lightspeed, and Moore Capital participated.
PayPal Ventures joined as a new investor.
The company's valuation is $85 Mn.
Total funding raised to date is over $32 Mn.
Xflow received a full PA-CB licence for both exports and imports.
It plans to launch services for Indian businesses to send money abroad.

Xflow is the first Indian fintech backed by both Stripe and PayPal Ventures.
It is among the few companies with both PA-CB Import and Export licences.
The company's top line grew 10X in the first nine months of FY26.

Xflow is a B2B fintech for cross-border payments, targeting SMEs to enterprises.
It serves close to 15,000 businesses, including SaaS firms, IT services exporters, GCCs, and goods exporters.
Revenue comes entirely from India, serving exporters and soon importers.
It provides cross-border payments infrastructure to fintechs like Drip Capital and Easebuzz.
Transactions range from a few hundred dollars to $6-7 Mn per transfer.
It targets high-value B2B transactions and competes with traditional banks.
Its FX rate management product lets exporters choose conversion timing within a window.
It offers a compliance help desk for post-payment regulatory requirements.
Integrations with Zoho and Tally enable automatic reconciliation.
The FX AI Analyst helps treasury decisions, yielding an average extra 8-10 paise per dollar.
In 2025, it enabled collections from over 100 countries across 25 currencies.
The team has over 60 people across product, compliance, risk, and partnerships.

Use funds for go-to-market in India, more products, and international licences.
Launch services for Indian businesses to send money abroad.
More product updates coming, including transaction speed improvements.

General Catalyst (lead) — Global venture capital firm.
Square Peg (participated) — Existing investor.
Stripe (participated) — Existing investor; payments company.
Lightspeed (participated) — Existing investor; venture capital firm.
Moore Capital (participated) — Existing investor.
PayPal Ventures (participated) — New investor; corporate venture arm of PayPal.

Product: Cross-border payment solution supporting 25+ currencies and compliance infrastructure for exports and imports
Customers: SMEs, ITES firms, funded startups and freelancers conducting international business transactions
How it makes money: B2B fintech - transaction fees and charges for cross-border payment services
What sets it apart: Full PA-CB licence approval for both exports and imports; compliance-first approach; streamlined verification process
Operations: Serving 15,000+ users across 100+ countries; revenues from India; expanding to handle outbound payments