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PayU invests $5 Mn in cross border payments startup BRISKPE

EntrackrEntrackr ยท 1y ago
PayU invests $5 Mn in cross border payments startup BRISKPE
Medial

Cross-border payments platform BRISKPE has raised $5 million in its seed round from PayU, the payments and fintech business of Prosus. The proceeds will be used to drive product development, talent acquisition, and business expansion, the company said in a press release. Founded by Sanjay Tripathy and Vijay Agicha, BRISKPE is primarily designed to meet the unique requirements of micro, small, and medium enterprises (MSMEs). Its solution empowers these businesses to reduce costs, streamline global operations, and boost their global competitiveness. Mumbai-based BRISKPE claims to have a customer base of more than 1,000 exporters and the company is on a mission to simplify global payments, making them cost-efficient, faster, and easy, while ensuring robust tracking and compliance. New-age startups such as Instarem, EximPe, Salt, Skydo and Payglocal are looking to disrupt the cross-border payments space by making this process affordable for smaller merchants. PayU, which recently received in-principle approval from The Reserve Bank of India (RBI) to operate as a payment aggregator, has backed fintech startups like Indiagold, Fisdom, and Dot, among others.

EximPe gets final PA-CB licence to process UPI cross-border payments

EntrackrEntrackr ยท 14d ago
EximPe gets final PA-CB licence to process UPI cross-border payments
Medial

EximPe, a cross-border payment startup, has received final authorisation from the Reserve Bank of India for the Payment Aggregator Cross Border (PA-CB) licence. The approval allows EximPe to enable global merchants to collect payments from Indian customers through UPI and other local payment methods, with settlements into offshore accounts. With the PA-CB licence, EximPe can allow international merchants and payment platforms to collect via UPI, cards, wallets, net banking, and bank transfers from India without setting up a local Indian entity. The company said this will help improve payment success rates and reduce friction for cross-border collections. Prior to receiving the licence, EximPe operated as a technology service provider to banking partners and has facilitated over $500 million in bank-led cross-border trade payments across Asia corridors. The company has now transitioned to operating directly as a cross-border payment aggregator under the RBI framework. According to EximPe, it aims to process $1 billion in annualised UPI-led cross-border transactions over the next 24 months. Founded by Arjun Zacharia, EximPe operates across corridors such as Indiaโ€“China, Indiaโ€“Hong Kong, Indiaโ€“Singapore, and Indiaโ€“ASEAN, and focuses on enabling compliant, UPI-led cross-border payment infrastructure for global businesses. EximPe has raised $3.5 million in seed funding led by Leo Capital, with participation from Beta Lab, RB Investments, along with several angel investors. In recent months, RBI approved online, offline and cross border payment aggregation for around half a dozen companies. These include Razorpay POS, Paytm, Razorpay, Easebuzz, PayU, Pine Labs and Airpay. With these clearances, the firms are authorised to offer a full stack of payment aggregator services across ecommerce transactions, in store merchant payments and cross border payment flows.

Skydo receives final RBI authorisation for cross-border payments

EntrackrEntrackr ยท 1m ago
Skydo receives final RBI authorisation for cross-border payments
Medial

Skydo, a cross-border payments platform for exporters, has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregatorโ€“Cross Border (PA-CB). The Bengaluru-based platform had received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity back in Jan. last year. It has also secured Payment Service Provider (PSP) approval from Amazon, enabling it to process payments for exporters participating in Amazon's Global Selling program. According to Skydo, it is among the first Cross-Border fintechs to secure this license, strengthening it aims to build transparent and seamless payment infrastructure for Indian MSMEs to grow globally. With the final PA-CB authorisation in place, Skydo will continue to deepen its product offerings and expand coverage across additional trade corridors. Skydo has introduced several first-to-market offerings for Indiaโ€™s growing MSME export sector, including seamless local payment acceptance in difficult corridors like Africa, and a suite of value-added services like Invoicing, Analytics and Payment Reminders. Co-founded in 2022 by Srivatsan Sridhar and Movin Jain, Skydo is a cross-border payments platform that simplifies global money movement for businesses. Its unified stack spans global collections, payouts, card acceptance, compliance automation, and developer-first APIs. The platform enables exporters to collect locally from international clients, with transparent flat-fee pricing, no markup on live mid-market FX rates, and fast settlements. Skydo provides instant access to compliance documents like FIRC through deep integration with partner banks, and offers a full suite of Accounts-Receivable tools like invoicing, payment reminders and ledgering, and integration with ERP / Accounting. The platform asserts that it serves more than 30,000 Indian MSMEs, freelancers, and startups across over 50 cities, supporting collections in more than 32 currencies.

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