Skydo, India’s leading 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).
Skydo is among the first cross-border fintech companies in India to secure the PA-CB licence, strengthening its mission to build transparent, compliant, and seamless payment infrastructure for Indian MSMEs, freelancers, and digital-first startups operating globally.
The Bengaluru-based company currently serves 30,000+ Indian MSMEs, freelancers, and startups across 50+ cities, enabling collections in 32+ currencies. The authorisation comes at a time when India is targeting USD 2 trillion in goods and services exports by FY30, driven largely by MSMEs and digital exporters.
Skydo’s platform allows exporters to collect payments locally from international clients through transparent flat-fee pricing, zero markup on live mid-market FX rates, and fast settlements. The platform also provides instant access to compliance documentation such as FIRC, enabled through deep integrations with partner banks. In addition, Skydo offers a full suite of accounts receivable tools, including invoicing, payment reminders, ledgering, and ERP/accounting integrations.
Awadhesh Ranjan, Head of Risk & Compliance, Skydo, said, “The RBI authorisation is a strong testament to our compliance-first culture, secure systems, and robust risk controls. Given India’s high regulatory bar for issuing such licences, this milestone reinforces trust among our customers and global banking partners.”
Commenting on the development, Srivatsan Sridhar, Co-founder & CEO, Skydo, said, “Receiving the RBI’s final PA-CB authorisation is a significant milestone for us. It validates our belief that well-governed, scalable systems and compliant payment rails are foundational to building an end-to-end financial operating system for global businesses. This licence will help us deepen trust with MSMEs, enterprises, and global payment partners as we scale volumes and expand across corridors and products.”
With the PA-CB licence in place, Skydo plans to expand coverage across additional trade corridors and deepen its product stack. The company has already introduced several first-to-market offerings for India’s export ecosystem, including local payment acceptance in complex corridors such as Africa, along with value-added services like invoicing, analytics, and automated payment reminders.
Movin Jain, Co-founder, Skydo, added, “Cross-border payments regulation has evolved significantly since Skydo’s launch, including the introduction of the PA-CB framework. Being a regulated entity allows us greater control over customer experience while effectively managing money laundering and financial crime risks. We are excited to extend our payments suite across exports, imports, and domestic use cases for 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, taking its total funding to USD 20 million. The company is on track to reach USD 5 billion in annualised payment volumes by 2027.
By: Arushi Agarwal
