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With the new licence, Skydo can facilitate both incoming and outgoing payments between India and Canada, including local fund collections and payouts.
With these approvals, Skydo can now facilitate both incoming and outgoing international transactions for Indian businesses.
Last year, Skydo raised $10 million in a Series A funding led by Susquehanna Asia Venture Capital.
The funding round also saw participation from existing investor Elevation Capital.
Skydo currently serves over 12,000 exporters in India, processing over $250 million in annual export payments.
With this, exporters on Amazon can receive their international payouts through Skydo, the company said in its statement.
