Skydo, a cross-border payments platform for businesses, has crossed a major milestone. The company has now passed US$1 billion in annualised payment volume and serves more than 50,000 businesses across the world.
This growth comes after a strong period for the company. In December 2025, Skydo raised US$10 million in Series A capital. Since then, the company has also secured key payment licences and approvals in India and other markets. It has added senior leaders across technology, global growth, risk and compliance, and GIFT City.
The new milestone shows how fast the need for simple global payment services is growing. More Indian companies now sell to customers abroad, pay overseas suppliers, hire people in other countries and use global software services. As these needs grow, businesses need payment tools that can handle more than just money collection.
A Wider Cross-Border Payment Platform
Over the past year, Skydo has made major progress on the regulatory side. The company received final RBI authorisation as a Payment Aggregator Cross-Border, or PA-CB. It also received approval to support domestic and outward payments.
Skydo also received PSP authorisation in-principle from the GIFT City IFSCA. In addition, the company secured its first international payment licence in Canada.
These approvals give Skydo a stronger base for its next stage of growth. The company plans to build a wider cross-border payment platform that can support collections, payouts and multi-currency needs.
For a business, this can make international money movement much easier. A company may receive money from a customer in the US, pay a software provider in Europe, send money to a contractor in another country and pay a supplier elsewhere. Each payment can have its own rules, fees and compliance needs.
A single platform can help reduce that complexity. Skydo aims to bring these different payment needs together while also offer clear prices, automated compliance and access to local payment systems.
India’s Global Business Growth
Skydo’s rise also reflects a larger change in the Indian economy. Indian businesses now have a much larger role in global trade. Companies of all sizes can reach customers outside India through software, online services, exports and digital platforms.
According to the Ministry of Commerce & Industry, India’s combined merchandise and services exports reached a record US$860 billion in FY2025-26. Imports crossed US$979 billion during the same period.
These figures show the huge scale of money that moves across India’s borders. They also point to a more complex trade system. Businesses do not only receive foreign payments. They also send money abroad for vendors, software, contractors, partners and other services.
This shift creates a need for payment infrastructure that can support both sides of global trade. Businesses want a process that is simple, fast, clear and compliant. Skydo is building its platform around this need.
Stronger Leadership for the Next Phase
Skydo has also added senior talent as it prepares for its next phase. The company has expanded its leadership presence across India, the US and GIFT City.
Ankit Arora, a technology leader from Amazon, joined Skydo to lead Engineering. His experience is expected to support the company as it builds more products and expands its payment network.
Varnika Menghnani, an MBA graduate from Harvard Business School, joined the company to lead its US expansion. The US is an important market for Indian businesses that have customers, partners and vendors there.
More recently, Shekhar Tejwani joined Skydo as Principal Officer and became the company’s first GIFT City-based hire. He has prior work experience at GIFT City, which gives him useful knowledge of the local financial ecosystem.
Skydo has also added more people across risk and compliance, product and growth. This expansion shows that the company sees regulation, product quality and customer growth as key parts of its future.
A Focus on Trust and New Corridors
Skydo says its growth has come from the trust of more than 50,000 businesses. Srivatsan Sridhar, Co-Founder and CEO of Skydo, said the company now wants to build on that trust through new products and more payment corridors.
The next stage will focus on more countries, more routes for payments and more financial products for companies with global needs.
This is an important shift for Skydo. Its early focus was on helping businesses collect international payments. Its broader goal now covers both collections and payouts. That means the company wants to support a business through a wider part of its global financial activity.
A broader network can also help Skydo serve customers as they expand into new markets. A company that starts with one overseas customer may later add clients in several countries. It may also hire foreign contractors, pay overseas vendors and open new business relationships.
Skydo wants its platform to support those needs without forcing businesses to use several separate payment services.
A Global Platform Built From India
Skydo currently supports payments across 150+ countries. Its platform helps businesses manage international collections and payouts with transparent prices, automated compliance and local payment infrastructure.
The company is backed by Elevation Capital and Susquehanna Asia Venture Capital. With more than 50,000 businesses on its platform and over $1 billion in annualised payment volume, Skydo has already built a sizable customer base.
Its founders say the long-term goal has always been to build for the world from India. Movin Jain, Co-Founder of Skydo, said the company’s stronger presence in the US, larger engineering team and base in GIFT City will help support its next phase of global growth.
GIFT City can play an important role in this plan. It gives financial companies a base within India’s international financial services ecosystem. For Skydo, a local team there can also support its work with regulators, financial partners and global payment routes.
The Road Ahead
Skydo now has an ambitious target for the next two years. The company aims to process more than $5 billion in annualised payment volume as it expands into new geographies, adds payment corridors and launches more globally native financial products.
Reaching that target will require more than customer growth. Skydo will need to expand its payment network, maintain strong compliance, build reliable products and earn the trust of more businesses.
The company’s recent regulatory approvals give it a stronger base for this effort. Its presence in India, GIFT City and Canada also gives it a wider path toward international growth.
The larger opportunity is clear. As Indian businesses take a bigger role in global commerce, cross-border payments will become a core part of their daily financial needs. Businesses will need simple ways to receive money, send funds, manage currencies and meet regulatory requirements.
Skydo is now moving from a focused cross-border payment service toward a broader global financial platform. With 50,000+ businesses, 150+ countries and more than $1 billion in annualised payment volume, the company has built a strong base. Its next goal of $5 billion will test how far that platform can grow.
For Skydo, the message is simple: build from India, serve businesses across the world and make global money movement easier for companies of every size.
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