General Catalyst Leads USD 16.6 Mn Series A Round in Xflow The round also saw participation from existing investors Square Peg, Stripe, Lightspeed, and Moore Capital, with PayPal Ventures joining as a new investor.
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Bengaluru-based cross-border payments startup Xflow has raised USD 16.6 million (about INR 138 crore) in a Series A funding round at a valuation of USD 85 million.
The round was led by General Catalyst, with participation from existing investors Square Peg, Stripe, Lightspeed, and Moore Capital. PayPal Ventures joined the round as a new investor.
The company has also received final PA-CB authorisation for both exports and imports, strengthening its regulatory framework for cross-border transactions.
Xflow said the new funding will be used to scale operations and expand into new geographies.
Founded by Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, Xflow provides cross-border payment solutions for small and medium enterprises, including IT-enabled services firms and venture-backed startups. Its platform aims to improve efficiency and compliance in international transactions for users ranging from freelancers and startups to larger enterprises.
The PA-CB Imports licence enables Xflow to serve overseas merchants and payment aggregators, while the PA-CB Exports licence enhances its existing offerings. The company expanded its product footprint and customer base in 2025, growing to nearly 15,000 users across SaaS companies, global capability centres, IT service exporters, and goods exporters.
Xflow also provides international payments infrastructure to fintech firms such as Drip Capital and Easebuzz. In 2025, the platform enabled Indian businesses to collect payments from more than 100 countries in over 25 currencies.
The startup said it currently serves over 10,000 businesses and has processed hundreds of millions of dollars in transactions.
