Skydo raised $5 million in a pre-Series A funding round led by Elevation Capital to acquire payment licenses and expand internationally.
Skydo raised $5 million in a pre-Series A funding round led by Elevation Capital to acquire payment licenses and expand internationally.
08/13/24, 6:25 AM
Location
bengaluruMoney raised
$5 million
Industry
payments
fintech
Round Type
series a
Investors
Elevation Capital
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 Info
Location
bengaluru, karnataka, india
Additional Info
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.