Total amount raised
$10.2 Million
Latest funding date
8/1/2024
Location
Skydo has successfully raised funding over three rounds, with the latest being a Series A. The company is backed by five investors, including notable names like Elevation Capital and Susquehanna Venture Capital.
Skydo's platform facilitates international business payments, offering features such as quick account setup, transparent fees, and seamless payment integration. Keep reading to explore the intricacies of Skydo's fundraising journey and the investors backing this innovative platform.
What Is Skydo?
Skydo, based in Bengaluru, Karnataka, India, operates in the financial technology industry, specifically focusing on international business payments and payment aggregation. The company has a small team of 1-10 employees.
Founded to simplify the process of receiving payments from overseas businesses, Skydo offers services such as zero FX margin, flat fees, and real-time payment tracking. The company is authorized by the Reserve Bank of India as a Payment Aggregator and partners with leading banks to ensure secure and compliant transactions.
How Much Funding Has Skydo Raised?
- Seed Round
- Amount Raised: USD 5,200,000
- Date: June 2022
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Establishing the company and developing its cross-border payment solutions.
- Seed Round
- Amount Raised: USD 5,000,000
- Date: August 2024
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expanding services and obtaining the RBI's cross-border payment aggregator license.
- Series A
- Amount Raised: USD 10,000,000
- Date: December 2025
- Lead Investors: Susquehanna Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Supporting growth and expansion as an online payment platform for receiving payments from overseas businesses.
Skydo has raised a total of USD 20,200,000. The current valuation is Not publicly disclosed.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that has been a significant backer of Skydo, leading both the seed round in 2022 and the pre-Series A round in 2024.
- Investment Focus Areas: Technology, internet companies, fintech.
- Notable Investments: Skydo, Paytm, Swiggy.
- Susquehanna Venture Capital
- Details: Susquehanna Venture Capital is a prominent venture capital firm that led Skydo's Series A funding round in 2025.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Skydo.
What's Next for Skydo?
Skydo stands on the brink of significant growth, with opportunities to expand its services to larger enterprises and secure a domestic payment aggregator license. The company aims to increase its total payment volume fivefold, tapping into the growing demand for cross-border payment solutions. This ambitious target underscores the vast potential in the market.
Future fundraising rounds are likely as Skydo seeks to scale its operations and enhance its product offerings. The anticipated approval of the cross-border payment aggregator license from the Reserve Bank of India could further bolster investor confidence, paving the way for additional equity infusions.
However, Skydo faces challenges, including navigating regulatory requirements and competing with established players in the payments industry. Ensuring compliance and managing the complexities of international transactions will be crucial as the company continues its upward trajectory.
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