B2B cross-border payments startup Xflow has raised $16.6 million in a Series A round at a valuation of $85 million. The round was led by General Catalyst, with participation from existing investors Square Peg, Stripe, Lightspeed, and Moore Capital. PayPal Ventures joined the round as a new investor.
The company has also received final PA-CB authorisation for both exports and imports.
The Bengaluru-based startup has raised $32 million to date, including a $10.2 million pre-Series A round in May 2023. The fresh capital will be used to scale operations and expand into new geographies, the company said in a press release.
Co-founded by Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, Xflow is a fintech company that provides cross-border payment solutions for SMEs, including ITES firms and funded startups. It focuses on improving efficiency and compliance in international transactions for businesses ranging from freelancers and startups to larger enterprises.
The PA-CB Imports licence allows Xflow to serve overseas merchants and payment aggregators, while the PA-CB Exports licence strengthens its existing offerings. The company said it expanded its product footprint and customer base in 2025, growing to nearly 15,000 users across SaaS companies, GCCs, IT service exporters, and goods exporters. It also provides international payments infrastructure to fintech companies such as Drip Capital and Easebuzz.
In 2025, Xflow enabled Indian businesses to collect payments from over 100 countries across more than 25 currencies. The company said its FX AI Analyst helps businesses make data-driven treasury decisions and improve foreign exchange outcomes. Xflow currently services over 10,000 businesses and has processed hundreds of millions of dollars in transactions.
