Cross-border payment startup EximPe said it has received in-principle licence to operate as a cross-border payment aggregator from the Reserve Bank of India (RBI).

The licence will help the company enable cross-border transactions for digital services, e-commerce, and B2B

goods trade, serving businesses across Asian emerging markets, it said in a statement.

"With this licence, EximPe is uniquely positioned to support businesses in expanding in the highest growth global corridor between India-Asia, while simplifying complex regulatory and financial requirements," said Arjun Zacharia, CEO and Founder of EximPe.

"With the PA-CB (payment aggregator cross border) licence, we want to expand our business by 10x by the end of FY 2026," he added.

The company claims that it has already processed more than $450 million in transactions and serves over 5,000

small and medium enterprise (SMEs), manufacturers, and service providers.

EximPe, which was founded in 2021 by Zacharia, had secured seed funding of $3.5 million from Leo Capital, ISeed Ventures and Kunal Shah, founder, Cred, among others, in 2022.

Earlier in May, PayPal Payments (PayPal), the Indian subsidiary of PayPal Holdings, and Worldline ePayments India also received in-principle approval from the RBI to operate as a cross-border payment aggregators.