In a major regulatory development for India’s fintech space, Skydo has received final authorisation from the Reserve Bank of India to operate as a Payment Aggregator–Cross Border (PA-CB). The approval enables the Bengaluru-based platform to scale regulated international payment services for Indian exporters, with a clear focus on MSMEs and small businesses.
The PA-CB licence is issued under the RBI’s evolving framework for payment systems. With this approval, Skydo becomes one of the first fintech companies in India to receive authorisation in the cross-border payment aggregator category. This is significant as cross-border payments involve foreign exchange transactions, regulatory checks, and detailed documentation, making direct RBI oversight essential for trust and compliance.
For exporters, the authorisation is expected to boost confidence among overseas customers and partners, as transactions will now be routed through a fully regulated platform. It also strengthens India’s digital payments ecosystem by improving transparency, monitoring, and adherence to legal norms.
Skydo currently serves over 30,000 MSMEs, startups, and freelancers across more than 50 Indian cities. The platform allows exporters to accept payments in over 32 foreign currencies, enabling overseas buyers to pay locally while ensuring smooth fund receipt in India.
A key differentiator is Skydo’s flat-fee pricing model with no markup on live mid-market forex rates. This helps exporters avoid hidden charges and manage costs more predictably. The platform also offers faster settlement cycles, supporting businesses that depend on steady cash flow.
Skydo further simplifies compliance by offering instant documentation through integrations with partner banks. Additional tools include invoicing, payment reminders, analytics dashboards, ledgering, and integrations with ERP and accounting systems to help exporters track collections and manage finances efficiently.
Following the RBI approval, Skydo plans to expand across additional global trade corridors. The company has already enabled local payment acceptance in complex markets such as Africa, underlining its focus on high-potential but challenging regions.
Recently, Skydo raised $10 million in Series A funding led by Susquehanna Asia Venture Capital, with participation from Elevation Capital. With total funding now at $20 million, the company has set a growth target of achieving $5 billion in annualised payment volumes by 2027, reflecting rising demand for regulated cross-border payment solutions.
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