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What is the story about?
Cross-border payments platform Skydo has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator–Cross Border (PA-CB), allowing it to facilitate cross-border payment collections in compliance with India’s regulatory framework.
With the approval, Skydo joins a small group of fintech firms authorised under the PA-CB framework. The Bengaluru-based company provides cross-border payment services to Indian exporters, including MSMEs, freelancers and startups. A
ccording to the company, it serves over 30,000 customers across more than 50 cities and supports collections in over 32 currencies.
The PA-CB licence enables Skydo to operate as a regulated entity for cross-border collections, a segment that has seen tighter oversight as the RBI brings such activities under the payment aggregator framework. The platform allows exporters to receive payments locally from international clients and provides access to compliance-related documentation such as Foreign Inward Remittance Certificates (FIRC) through partner banks. It also offers accounts-receivable tools such as invoicing, payment reminders and ledgering.
Company executives said the authorisation reflects regulatory confidence in its systems and controls. Skydo plans to expand its product offerings and coverage across additional trade corridors following the approval. The company has also introduced services aimed at facilitating payments from regions considered operationally challenging, including parts of Africa.
Skydo recently raised $10 million in a Series A funding round, taking its total funding to $20 million. The company said it is targeting higher payment volumes over the coming years as India works towards increasing goods and services exports, with MSMEs and digital-first businesses playing a larger role.
With the approval, Skydo joins a small group of fintech firms authorised under the PA-CB framework. The Bengaluru-based company provides cross-border payment services to Indian exporters, including MSMEs, freelancers and startups. A
ccording to the company, it serves over 30,000 customers across more than 50 cities and supports collections in over 32 currencies.
The PA-CB licence enables Skydo to operate as a regulated entity for cross-border collections, a segment that has seen tighter oversight as the RBI brings such activities under the payment aggregator framework. The platform allows exporters to receive payments locally from international clients and provides access to compliance-related documentation such as Foreign Inward Remittance Certificates (FIRC) through partner banks. It also offers accounts-receivable tools such as invoicing, payment reminders and ledgering.
Company executives said the authorisation reflects regulatory confidence in its systems and controls. Skydo plans to expand its product offerings and coverage across additional trade corridors following the approval. The company has also introduced services aimed at facilitating payments from regions considered operationally challenging, including parts of Africa.
Skydo recently raised $10 million in a Series A funding round, taking its total funding to $20 million. The company said it is targeting higher payment volumes over the coming years as India works towards increasing goods and services exports, with MSMEs and digital-first businesses playing a larger role.
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