Skydo has surpassed US$1 billion in annualised payment volume, serving more than 50,000 businesses.
The milestone follows the company’s US$10 million Series A funding raised in December 2025, along with payment licences secured in India and other jurisdictions and additions to its leadership team.
Over the past year, Skydo received final RBI authorisation as a Payment Aggregator Cross-Border (PA-CB), approvals to support domestic and outward payments, in-principle PSP authorisation from GIFT City IFSCA and its first international payment licence in Canada.
These approvals support the company’s expansion of its cross-border payments platform across collections, payouts and multi-currency capabilities.
Skydo’s growth comes as Indian businesses increasingly engage in international trade. According to the Ministry of Commerce and Industry, India’s combined merchandise and services exports reached US$860 billion in FY2025-26, while imports crossed US$979 billion.
The company said businesses are increasingly managing payments to and from overseas customers, vendors, software providers, contractors and partners, creating demand for platforms that bring collections, payouts and compliance together.
Skydo has also expanded its leadership across India, the US and GIFT City. Ankit Arora, formerly with Amazon, has joined to lead Engineering, while Varnika Menghnani, an MBA graduate from Harvard Business School, has joined to lead the company’s US expansion. Shekhar Tejwani has joined as Principal Officer and Skydo’s first GIFT City-based hire.
The company has also expanded its risk and compliance, product and growth teams.
Srivatsan Sridhar, Co-Founder and CEO, Skydo, said the company aims to build on the trust of its 50,000 business customers by introducing new products across additional payment corridors.
Over the next two years, Skydo aims to process more than US$5 billion in annualised payment volume as it expands into new geographies, develops additional payment corridors and introduces financial products for businesses operating across borders.
Movin Jain, Co-Founder, Skydo, said the company’s focus remains on building global capabilities from India, with investments in the US, engineering and GIFT City supporting its next phase of growth.
Skydo currently enables businesses to manage international collections and payouts with transparent pricing, automated compliance and local payment infrastructure, supporting payments across 150+ countries.
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