Skydo
Skydo is an RBI-authorized cross-border payments platform enabling Indian exporters, freelancers, MSMEs, and Amazon Global Sellers to receive international business payments with zero FX margin, flat-fee pricing, and instant FIRA across 150+ countries and 32+ currencies.
- Company typePrivate
- Founded2022
- HeadquartersBengaluru, India
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Skydo does
Skydo Technologies Private Limited is a Bengaluru-headquartered, RBI-authorized cross-border payments platform founded in 2022 by Srivatsan Sridhar and Movin Jain. The company enables Indian exporters, freelancers, MSMEs, and Amazon Global Sellers to receive international business payments from clients across 150+ countries in 32+ currencies, addressing pain points around high FX margins, slow settlements, and compliance documentation. Skydo holds final RBI Payment Aggregator-Cross Border (PA-CB) authorization, in-principle GIFT City IFSC PSP approval, ISO 27001 and SOC 2 Type 2 certifications, and as of June 2026 became the first Indian cross-border fintech to secure an international payment licence under Canada's Retail Payment Activities Act.
The platform's core product provides virtual multi-currency bank accounts in the US, UK, Canada, Australia, Singapore, UAE, and 10+ other jurisdictions, with real-time FX at zero margin, instant Foreign Inward Remittance Advice (FIRA) generation, GST-compliant invoicing, and real-time payment tracking. Extensions include Skydo InstaLinks for card-based payment link acceptance, a dedicated Amazon Global Seller withdrawal service with tailored flat-fee pricing, and a US tariff refund service launched in partnership with Intoglo in April 2026. The technology stack is built on Currency Cloud's (Visa-owned) currency infrastructure, Banking Circle and Veem payment rails, and HDFC/DBS banking relationships, with an AI-driven compliance engine supporting KYC/AML monitoring and anomaly detection.
Skydo's revenue model is transaction-based, charging flat fees of $19 for transactions up to $2,000, $29 for $2,001-$10,000, and 0.3% above $10,000, with no FX margin markup and free FIRA generation. Amazon Global Sellers receive dedicated pricing (0.5% with $2 minimum under $10,000; 0.3% above). The company has processed $300M+ cumulatively with $850M-$1B+ annualized volume across 200,000+ annual payments for 40,000+ Indian exporters across 50+ cities. Skydo has raised approximately $15-20 million across a $5M pre-Series A led by Elevation Capital (August 2024) and a $10M Series A led by Susquehanna Asia Venture Capital (December 2025), with capital earmarked for geographic expansion, additional regulatory licensing, and card acceptance infrastructure.
Skydo firmographics
Firmographics- Name
- Skydo
- Legal name
- Skydo Technologies Private Limited
- Website
- https://skydo.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Skydo is an RBI-authorized cross-border payments platform enabling Indian exporters, freelancers, MSMEs, and Amazon Global Sellers to receive international business payments with zero FX margin, flat-fee pricing, and instant FIRA across 150+ countries and 32+ currencies.
- Ownership category
- akta.pro rank
Skydo industry classification
Industry- Product category
- Cross-Border Payments / Fintech
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- akta.pro primary industry
- Cross-Border & Multi-Currency Gateway Services (FSAMACAI)
- akta.pro secondary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
Keywords
Where Skydo is headquartered
LocationHeadquarters
- HQ city
- Bengaluru
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Skydo business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction Fees: Flat fee per transaction plus a small FX spread component. Fee structure varies by transaction volume: $19 for up to $2,000, $29 for $2,001-$10,000, and 0.3% above $10,000. No FX margin on top of mid-market rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Tier 1: Up to $2,000 |
| Transaction based/ take rate | Pay-as-you-go | Tier 2: $2,001 to $10,000 |
| Transaction based/ take rate | Pay-as-you-go | Tier 3: Above $10,000 |
| Transaction based/ take rate | Pay-as-you-go | Amazon Global Seller Pricing |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels10 records
Skydo product offering
Product offeringCore offering
Skydo is an RBI Payment Aggregator-Cross Border (PA-CB) authorized platform that enables Indian exporters, freelancers, and MSMEs to receive international business payments via virtual multi-currency bank accounts across 150+ countries in 32+ currencies. It charges flat transaction fees with zero FX margin, delivers next-day settlements, generates instant FIRA documentation, and provides GST-compliant invoicing and Amazon Global Seller withdrawal services under a single regulated platform.
Product overview
Skydo operates as a full-stack cross-border payments platform for Indian exporters, freelancers, and MSMEs. The core Skydo Platform serves as the central hub providing global virtual bank accounts, real-time FX at zero margin, flat-fee pricing, instant FIRA generation, and GST-compliant invoicing. This core is extended by the Amazon Global Seller Payments module, which delivers tailored withdrawal services for Amazon marketplace sellers across multiple country stores, and by Skydo InstaLinks, a payment link product enabling card acceptance. All offerings are unified under a single RBI PA-CB licence and support 150+ countries and 32+ currencies.
Differentiator
Problem solved
Functional benefit
Products and services
- Skydo Platform (Cross-Border Payments) RBI PA-CB authorized cross-border payments platform enabling Indian exporters, freelancers, and MSMEs to receive international business payments with zero FX margin, flat-fee pricing, instant FIRA generation, real-time payment tracking, and GST-compliant invoicing. Supports collections from 150+ countries in 32+ currencies.
- Global Bank Accounts Virtual multi-currency bank accounts in USD, GBP, EUR, CAD, AUD, SGD and 10+ countries, enabling Indian exporters to receive local payments from international clients without needing foreign currency accounts. Onboarding in under 5 minutes.
- Skydo InstaLinks (Payment Links) Shareable payment link feature allowing Indian exporters to accept international card payments with 1-click payer experience. Works with 100+ US banks and claims up to 80% fee savings versus traditional card processing.
- Skydo Invoicing Built-in GST-compliant invoicing module for Indian exporters, enabling professional invoice generation, custom payment reminders, client ledger tracking, and business analytics.
- Amazon Global Seller Payments Specialised withdrawal service for Amazon Global Sellers, enabling fund withdrawal from Amazon stores in US, UK, Canada, Spain and 10+ countries via Skydo's global accounts, with tailored flat-fee pricing (0.5% min $2 for under $10K, 0.3% above $10K) and dedicated India-based support.
Quantifiable outcome
- Zero FX margin - customers save on hidden markup charges typically ranging from 1-3% charged by banks
- +3 more outcomes
Companies that use Skydo
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Skydo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature5 records
Skydo partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Currency Cloud (Visa company)coreTechnology partner providing currency infrastructure and payment rails. As a Visa company, Currency Cloud enables Skydo to leverage established payment networks and currency conversion infrastructure.
- Amazon Global SellingcoreMarketplace integration enabling Amazon sellers to access Skydo's cross-border payment services directly through Amazon's platform, facilitating seamless payment repatriation for international sellers.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
Skydo competitors and assessment
Company assessmentDirect peers
- Payoneer: Payoneer provides multi-currency receiving accounts and cross-border payouts specifically targeting freelancers, marketplaces, and SMB exporters — a near-identical customer profile to Skydo's Indian exporters, MSMEs, and Amazon Global Sellers. Payoneer is one of Skydo's most direct competitors in the cross-border exporter payments space.
- Veem: Veem is a cross-border payments network for SMBs and is an existing technology partner of Skydo. Veem operates the same flat-fee/multi-currency business model for SMB cross-border B2B payments, making it both a partner and competitor in the Indian exporter corridor.
- Razorpay: Razorpay is India's leading payments aggregator and has expanded into cross-border payouts via RazorpayX International, directly competing with Skydo for Indian businesses receiving international payments. Same geographic focus, overlapping SMB/freelancer customer base, and similar product trajectory from domestic to cross-border payments.
- Cashfree Payments: Cashfree is an Indian payment gateway with cross-border collections capabilities targeting Indian exporters and SMBs. It competes head-to-head with Skydo on the same RBI-licensed cross-border payments opportunity and similar customer segments in India.
- Niyo Solutions: Niyo provides multi-currency accounts and cross-border payment solutions for Indian salaried employees, freelancers, and SMBs. It overlaps with Skydo on multi-currency wallet infrastructure and Indian outbound/inbound payment use cases, though Niyo's focus is broader consumer/inward remittance rather than exporter collections.
- Wise (formerly TransferWise): Wise is the global benchmark for transparent, mid-market-rate cross-border payments and multi-currency accounts serving SMEs, freelancers, and individuals. Skydo operates the same business model (multi-currency accounts + flat-fee cross-border collections) but is focused specifically on the India export corridor.
- PingPong Payments: PingPong provides cross-border payment infrastructure for global SMBs and marketplace sellers, including Amazon sellers — directly overlapping with Skydo's Amazon Global Sellers product. Same business model of low-cost cross-border collections with multi-currency accounts for cross-border commerce.
Broad incumbents
- PayPal: PayPal offers cross-border payments, multi-currency wallets, and invoicing globally at much larger scale. While not India-specialised, PayPal is explicitly referenced in Skydo's own marketing as a more expensive alternative (8.7% loss in Skydo's comparison), making it a direct incumbent competitor for international payment collection.
- Western Union: Western Union is the largest global cross-border money movement incumbent and operates in India for both inward remittances and business payments. While its customer base skews more retail/remittance, it competes for the same cross-border India-corridor flows Skydo targets.
- PayU India: PayU India is a leading Indian payment gateway with international payment capabilities and is backed by Prosus. It competes with Skydo on payment processing for Indian SMBs and has resources and a partner network to expand into cross-border SMB collections.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights2 records
Customer concentration
Skydo social profiles
Digital presenceSkydo compliance and trust
Trust signalCompliance2 records
Skydo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Skydo leadership team
Management profileNumber of profiles
Profiles4 records
Skydo funding detail
Funding detailFunding overview
Funding rounds3 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Skydo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Skydo
What does Skydo do?
Skydo is an RBI Payment Aggregator-Cross Border (PA-CB) authorized platform that enables Indian exporters, freelancers, and MSMEs to receive international business payments via virtual multi-currency bank accounts across 150+ countries in 32+ currencies. It charges flat transaction fees with zero FX margin, delivers next-day settlements, generates instant FIRA documentation, and provides GST-compliant invoicing and Amazon Global Seller withdrawal services under a single regulated platform.
Is Skydo a public or private company?
Skydo is a private company. It is classified as venture growth investor backed and is currently operating.
When was Skydo founded?
Skydo was founded in 2022. It employs 101 to 250 people.
Where is Skydo based?
Skydo is headquartered in Bengaluru, India, in the Asia region.
How does Skydo make money?
One revenue line is on record: transaction Fees.
Who are Skydo's main competitors?
Direct peers on record are Payoneer, Veem, Razorpay, Cashfree Payments, Niyo Solutions, Wise (formerly TransferWise) and PingPong Payments. Broad incumbents are PayPal, Western Union and PayU India.
Does Skydo have an API?
No public API is recorded for Skydo.
What industry is Skydo in?
Skydo's product category is Cross-Border Payments / Fintech. Its primary akta.pro industry code is FSAMACAI, Cross-Border & Multi-Currency Gateway Services, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 52232.