Skydo Secures RBI Authorisation for Cross-Border Payments The platform is among the first Cross-Border fintechs to secure a license. According to the Bengaluru-based company, it serves more than 30,000 Indian MSMEs, freelancers, and startups across 50+ cities. Skydo also supports collections in over 32 currencies.

Skydo, a cross-border payments platform for exporters, has announced that it received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator–Cross Border (PA-CB).

The platform is among the first Cross-Border fintechs to secure a license. According to the Bengaluru-based company, it serves more than 30,000 Indian MSMEs, freelancers, and startups across 50+ cities. Skydo also supports collections in over 32 currencies.

Skydo said it aims to continue building a compliant, transparent, and technology-led 'Cross-Border Payment' platform, enabling exporters to collect locally from international clients, with transparent flat-fee pricing, no markup on live mid-market FX rates, and fast settlements. According to the company, its platform provides instant access to compliance documents like FIRC through deep integration with partner banks, and offers a full suite of accounts receivable tools like Invoicing, payment reminders, and Ledgering, and Integration with ERP / Accounting.

Awadhesh Ranjan, Head of Risk and Compliance at Skydo, said, "The RBI authorization is a strong testament to our understanding of the Cross-Border Payments space, Compliance-first culture, secure systems, and robust risk controls. This is a strong marker of trust for our customers as well as global bank partners, especially given India's regulatory rigor and high bar for issuing such licenses."

Srivatsan Sridhar, co-founder and CEO of Skydo, said, "Receiving the RBI's final PA-CB authorisation is a significant milestone for us. It validates our approach that building well-governed and scalable systems, and deep, compliant payment rails, are foundational to building an end-to-end financial operating system for ambitious global businesses. The license will help us build stronger trust with SMB and Enterprise customers, Global Bank and Payments partners as we scale our payment volumes significantly, and expand across products and corridors."

With the final PA-CB authorisation in place, Skydo said that it will continue to expand its product offerings and spread its coverage across additional trade corridors. Skydo has also introduced several first-to-market offerings in the MSME export sector, including seamless local payment acceptance in difficult corridors like Africa, and a host of value-added services like invoicing, analytics, and payment reminders

Movin Jain, co-founder, Skydo, said, "Since the launch of Skydo, Cross-Border Payments regulation has evolved significantly, including the conception of the PA-CB (Cross-Border Payment Aggregator Framework). We are happy to have been a key part of this ecosystem and are proud to have contributed to its evolution. By bringing Cross-Border Payments under the Payment Aggregator framework, RBI has enabled companies like Skydo to build deeply contextual products for Indian exporters. As a regulated entity, we have a lot more control over customer journey and service levels, while being able to effectively manage the risk of Money Laundering and Financial Crime. Going forward, we are excited to solve customer needs across a range of use-cases, across exports, imports, and domestic transactions, bringing our powerful payments suite to a wider range of MSMEs and freelancers."

Skydo recently raised USD 10 million in Series A funding, led by Susquehanna Asia Venture Capital, with participation from existing investor Elevation Capital. This brings the company's total funding to USD 20 million to date. According to the company, it aims to record USD 5 billion in annualized payment volumes by 2027.