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Total amount raised
$20.2M
Latest funding date
2025-12-10
Location
Skydo has successfully raised funding over three rounds, with the latest being a Series A. The company is backed by five investors, including notable names like Elevation Capital and Susquehanna Venture Capital.
What Is Skydo?
Skydo, based in Bengaluru, Karnataka, India, operates in the financial technology industry, specifically focusing on international business payments and payment aggregation. The company was founded in 2022 by Movin Jain and Srivatsan Sridhar.
Founded to simplify the process of receiving payments from overseas businesses, Skydo offers services such as zero FX margin, flat fees, and real-time payment tracking. The company holds in-principle RBI authorisation as a Payment Aggregator – Cross Border (PA-CB) and partners with leading banks to ensure secure and compliant transactions. Skydo serves 30,000+ Indian MSMEs, freelancers, and startups across 50 cities, supporting payments in 32 currencies.
How Much Funding Has Skydo Raised?
- Seed Round
- Amount Raised: USD 5,200,000
- Date: June 2022
- Lead Investors: Elevation Capital
- Other Investors: Eximius Ventures, Better Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Establishing the company and developing its cross-border payment solutions for Indian MSMEs, freelancers, and startups.
- Pre-Series A Round
- Amount Raised: USD 5,000,000
- Date: August 13, 2024
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Ramping up operations, strengthening risk monitoring and compliance, and obtaining the RBI cross-border payment aggregator licence.
- Series A
- Amount Raised: USD 10,000,000
- Date: December 10, 2025
- Lead Investors: Susquehanna Asia Venture Capital
- Other Investors: Elevation Capital, Eximius Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expanding local collection capabilities across 20+ countries in Southeast Asia, Middle East, Africa, and Latin America; obtaining regulatory licences in key international markets; and deepening product offerings including global payouts, card acceptance, and developer APIs.
Skydo has raised a total of USD 20,200,000 across three disclosed funding rounds. The current valuation is not publicly disclosed.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a leading venture capital firm that has backed Skydo from the very beginning, leading the Seed round in June 2022 and the Pre-Series A round in August 2024, and participating in the Series A in December 2025.
- Investment Focus Areas: Technology, internet companies, fintech.
- Notable Investments: Skydo, Paytm, Swiggy.
- Susquehanna Asia Venture Capital
- Details: Susquehanna Asia Venture Capital (part of Susquehanna International Group) led Skydo's Series A funding round in December 2025, marking a significant institutional endorsement of the company's cross-border payments infrastructure.
- Investment Focus Areas: Technology and fintech companies across Asia.
- Notable Investments: Skydo.
- Eximius Ventures
- Details: Eximius Ventures participated in Skydo's Seed round in 2022 and again in the Series A round in December 2025, demonstrating continued conviction in the company's growth.
- Investment Focus Areas: Early-stage technology startups in India.
- Notable Investments: Skydo, Jar, Eka.care.
What's Next for Skydo?
Skydo stands on the brink of significant growth, with opportunities to expand its services to larger enterprises and secure a domestic payment aggregator license. The company aims to increase its total payment volume fivefold, tapping into the growing demand for cross-border payment solutions. This ambitious target underscores the vast potential in the market.
Future fundraising rounds are likely as Skydo seeks to scale its operations and enhance its product offerings. The anticipated approval of the cross-border payment aggregator license from the Reserve Bank of India could further bolster investor confidence, paving the way for additional equity infusions.
However, Skydo faces challenges, including navigating regulatory requirements and competing with established players in the payments industry. Ensuring compliance and managing the complexities of international transactions will be crucial as the company continues its upward trajectory.
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