Bengaluru-based Skydo gets final nod from RBI to operate as a cross-border payment aggregator

Cross-border payments fintech Skydo received final approval from the Reserve Bank of India (RBI) on Friday to become a payment aggregator – cross-border (PA-CB).

 Skydo gets final nod from RBI

With the full licence, the company said it will deepen its product offerings and expand coverage across additional trade corridors.

 Bengaluru-based Skydo’s PA-CB-I licence allows it to process cross-border payments, specifically for facilitating inward transactions.

“Skydo has introduced several first-to-market offerings for India’s growing MSME export sector, including seamless local payment acceptance in difficult corridors such as Africa…,” the company said in a statement.

 The fintech firm received the approval at a time when multiple domestic payment aggregators, including online and offline players, have obtained their own cross-border licences.

At present, the RBI has authorised 19 entities with the PA-CB licence.

“By bringing cross-border payments under the payment aggregator framework, the RBI has enabled companies such as Skydo to build deeply contextual products for Indian exporters. As a regulated entity, we have much greater control over the customer journey and service levels, while being able to effectively manage the risk of money laundering and financial crime,” said Movin Jain, co-founder, Skydo.

 The Bengaluru-based company claims to serve more than 30,000 Indian MSMEs, freelancers and startups across more than 50 cities, supporting collections in over 32 currencies.

 Skydo is expanding to the United States after it raised $10 million in a Series A funding round led by Susquehanna Asia Venture Capital, with participation from existing investor Elevation Capital, in December 2025. It is targeting US-based small and medium businesses (SMBs) as part of its expansion plan.

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