In an exciting development for India's entrepreneurial ecosystem, Bengaluru startup Skydo has received final authorization from the Reserve Bank of India to operate as a Payment Aggregator-Cross Border. This achievement represents far more than regulatory approval: it's a powerful vote of confidence in a homegrown company that's helping tens of thousands of small businesses compete on the world stage.

Skydo currently serves over 30,000 micro, small and medium-sized enterprises, freelancers, and startups across nearly 50 Indian cities. For these ambitious entrepreneurs, the platform has become an essential bridge to international markets, supporting collections in more than 32 currencies and enabling them to receive payments from global clients while settling funds quickly back home in India.

"The RBI authorisation is a strong testament to our understanding of the cross-border payments space, compliance-first culture, secure systems, and robust risk controls," shared Awadhesh Ranjan, Head of Risk and Compliance at Skydo. His words highlight the rigorous standards the company has met to earn this distinction, especially given India's high regulatory bar for issuing such licenses.

The achievement comes at a pivotal moment. India's central bank introduced the Payment Aggregator-Cross Border framework to bring greater transparency and protection to international transactions, addressing concerns around money laundering and foreign exchange while safeguarding consumers. For innovative startups like Skydo, this framework provides a clearer, more secure pathway to scale and serve even more businesses.

Co-founder and CEO Srivatsan Sridhar sees the authorization as validation of Skydo's foundational approach. "It validates our approach that building well-governed and scalable systems, and deep, compliant payment rails are foundational to building an end-to-end financial operating system for ambitious global businesses," he explained.

The Ripple Effect

The positive impact of Skydo's authorization extends far beyond one company's success. For the 30,000 businesses currently using the platform, this regulatory stamp of approval means greater confidence and stability as they navigate international commerce. The company's flat-fee pricing model, with no markup on mid-market foreign exchange rates, helps these smaller players compete more effectively with larger corporations that have traditionally dominated cross-border trade.

Skydo has thoughtfully expanded its offerings to include practical tools that make life easier for busy entrepreneurs: instant access to Foreign Inward Remittance Certificates through partner bank integrations, invoicing capabilities, payment reminders, and seamless integration with accounting software. These features transform what was once a complex, frustrating process into a streamlined experience.

The company's momentum is backed by strong investor confidence, having recently completed a $10 million Series A funding round led by Susquehanna Asia Venture Capital, bringing total funding to $20 million. With ambitious plans to reach $5 billion in annualized payment volumes by 2027, Skydo is positioned to help even more Indian businesses flourish in the global marketplace.

This story showcases how thoughtful regulation, innovative technology, and entrepreneurial spirit can combine to create opportunities for thousands of small businesses to dream bigger and reach further than ever before.