Skydo raises $10 million in Series A funding led by Susquehanna Asia VC
10 Dec 2025, 11:17 AMThe funding round also saw participation from existing investor Elevation Capital.
Team Head&Tale
Share the story on
Skydo, a cross-border payments platform, has raised $10 million in its Series A funding round led by Susquehanna Asia Venture Capital.
The funding round also saw participation from existing investor Elevation Capital.
The Bengaluru-based startup will use the fresh capital for geographical expansion in more than 20 countries in Southeast Asia, the Middle East, Africa, and Latin America.
The startup, which was founded by Srivatsan Sridhar and Movin Jain in 2022, allows exporters to receive payments through local collections across multiple countries, along with flat-fee pricing, zero forex markups, and 24-hour settlement. The platform also automates compliance documentation such as FIRA and offers tools for invoicing, reminders, and accounting integration. Skydo currently serves over 30,000 MSMEs, freelancers, and startups across more than 50 cities.
The platform processes transactions in over 32 currencies and was among the first companies to receive the Reserve Bank of India's in-principle approval under the Payment Aggregator–Cross Border (PA-CB) framework. The company claims it has grown its payment volume fourfold over the past year and is now targeting $5 billion in annualised transaction volume within the next two years.
"Now is the time for us to spend some more time in international markets. We will be starting with expanding to the US and over time we want to expand to other countries. The vision is that any company in any part of the world should be able to make or receive payments to any other company in a different part of the world," said Jain, co-founder of Skydo.
"This investment will help us acquire payment licenses across geographies, expand internationally, and enable customers to send and receive business payments across multiple countries," said Sridhar, co-founder and CEO of Skydo.
Skydo last raised $5 million in a pre-Series A funding round in August 2024, led by Elevation Capital. With this latest round, the startup has raised a total of $19.7 million in equity funding.
The cross-border payments sector in India has been witnessing significant investor interest.
Earlier in July this year, Aspora raised $53 million in its Series B funding round co-led by Sequoia Capital and Greylock Partners.
In 2024, Mumbai-based BRISKPE raised $5 million in seed funding from PayU, while HiWiPay raised $2 million in a seed round led by Unicorn India Ventures in February 2025. Cashfree Payments raised $53 million in a Series C round in March 2025, led by KRAFTON, to bolster its cross-border offerings.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
