Skydo raised $5 million in a pre-Series A funding round led by Elevation Capital to acquire payment licenses and expand internationally.

Aug 13, 2024•over 1 year ago

Amount Raised

$5 Million

Round Type

series a

BengaluruPaymentsFintech

Investors

Elevation Capital

Description

Cross-border payments platform Skydo has secured $5 million in a pre-Series A funding round led by existing investor Elevation Capital. This investment will help Skydo expand internationally and enhance its compliance and risk monitoring efforts.

Company Information

Company

Skydo

Location

Bengaluru, Karnataka, India

About

Skydo is a cross-border payments platform founded in 2022 by Srivatsan Sridhar and Movin Jain. It aims to simplify international payments for SMB exporters, enterprises, and freelancers by offering a flat-fee pricing model. The platform processes payments in 32 currencies and supports over 6,000 Indian exporters. Since its inception, Skydo has processed payments of over $100 million, highlighting its significant impact on reducing forex transaction costs.

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