Skydo, a cross-border payments platform for exporters, has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator–Cross Border (PA-CB).
In January 2025, Skydo received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity.
With the final PA-CB authorisation in place, Skydo will continue to deepen its product offerings and expand coverage across additional trade corridors. Skydo has introduced several first-to-market offerings for India’s growing MSME export sector, including seamless local payment acceptance in difficult corridors like Africa, and a suite of value-added services like Invoicing, Analytics and Payment Reminders.
Founded in 2022 by Srivatsan Sridhar and Movin Jain, Skydo is a Bengaluru-based cross-border payments platform that simplifies global money movement for businesses. Its unified stack spans global collections, payouts, card acceptance, compliance automation, and developer-first APIs.
The platform enables exporters to collect locally from international clients, with transparent flat-fee pricing, no markup on live mid-market FX rates, and fast settlements.
Skydo 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.
The company serves 30,000+ Indian MSMEs, freelancers, and startups across 50+ cities, supporting collections in 32+ currencies.
Skydo recently raised $10 million in Series A funding led by Susquehanna Asia Venture Capital, with participation from existing investor Elevation Capital, taking the company’s total funding to $20 million to date.
Awadhesh Ranjan, Head of Risk & 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.”
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.”
