Aug 11: Skydo, a cross-border payments platform for businesses, has surpassed Dollar 1 billion in annualised payment volume, serving more than 50,000 businesses. The milestone comes on the back of a USD 10 million Series A capital raise in December 2025, payment licenses in India and other jurisdictions and a significant addition to its leadership team.
Over the past year, Skydo has obtained final RBI authorisation as a Payment Aggregator Cross-Border, approval to support domestic and outward payments, PSP authorisation from the GIFT City IFSCA and its first international payment licence in Canada. Together, these approvals have laid the foundation for a broader cross-border payments platform spanning collections, payouts and multi-currency capabilities.
The company’s growth reflects the increasing internationalisation of Indian businesses. According to the Ministry of Commerce & Industry, India’s combined merchandise and services exports reached a record USDollar 860 billion in FY2025-26, while imports crossed USDollar 979 billion, highlighting the growing scale and complexity of the country’s cross-border trade ecosystem.
Today, businesses are not only receiving payments from global customers, but also paying overseas vendors, software providers, contractors and partners. As these payment journeys become more complex, demand is rising for infrastructure that brings collections, payouts and compliance together on a single platform, helping businesses manage both sides of cross-border money movement seamlessly.
To support its next phase of growth, Skydo has strengthened leadership across India, the US and GIFT City. Ankit Arora, a technology leader from Amazon, joined to head Engineering, while Varnika Menghnani, an MBA graduate from the Harvard Business School, joined to lead Skydo’s US expansion. More recently, Shekhar Tejwani, who has prior work experience at GIFT City, joined as Principal Officer and Skydo’s first GIFT City-based hire. The company has also seen significant growth in its risk & compliance, product and growth teams.
“We’ve spent the last few years earning the trust of 50,000 businesses. The next phase is about compounding this trust through serving customers with new products across more payment corridors. “ said Srivatsan Sridhar, Co-Founder and CEO of Skydo.
Over the next 2 years, Skydo aims to process over Dollar 5 billion in annualised payment volume as it expands into new geographies, builds additional payment corridors and introduces more globally native financial products for businesses operating across borders.
“Our ambition has always been to build for the world, from India. The team we’re building reflects where the business is headed. Strengthening our presence in the US, expanding engineering capabilities and building from GIFT City position us well for the next phase of global growth.” said Movin Jain, Co-Founder of Skydo.
Today, Skydo enables businesses to seamlessly manage international collections and payouts with transparent pricing, automated compliance and local payment infrastructure. The company supports payments across 150+ countries and continues to expand its product stack to simplify global commerce for businesses of all sizes.