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Payments startup Skydo secures $5 million in funding from Elevation Capital, others

Economic Times

Economic Times · 11m ago

Payments startup Skydo secures $5 million in funding from Elevation Capital, others

Cross-border payment startup Skydo has secured $5 million in an equity funding round led by Elevation Capital, with participation from angel investors. This follows the company's previous $5 million raise from Elevation Capital in 2022. Skydo currently assists small businesses and freelancers in accepting payments from outside of India but aims to expand its services to include domestic merchant payment solutions. With the funding, Skydo plans to increase its total payment volume and become a key player in the international payments market in India.

Related News

Sykdo Bags $5 Mn To Streamline Cross-Border Online Payments For Small Businesses

Inc42 · 11m ago

Sykdo Bags $5 Mn To Streamline Cross-Border Online Payments For Small Businesses

Skydo, a payment technology company, has raised an undisclosed amount in a funding round led by Elevation Capital. The round also saw participation from several angel investors. This marks the second equity investment for Skydo, following a $5 million raise in its first institutional round from Elevation Capital in 2022. The funding comes as the company awaits a payment aggregator cross-border license from the Reserve Bank of India (RBI).

How Skydo Is Disrupting Indian B2B Cross-Border Payments

Inc42 · 1y ago

How Skydo Is Disrupting Indian B2B Cross-Border Payments

Indian startup Skydo aims to streamline cross-border online transactions for small businesses. It allows Indian businesses to open international accounts with minimal KYC and KYB documentation, enabling them to make payments to vendors across geographies easily. Currently, Skydo works with 1,500 businesses and processes payments of $50 million annually. The startup, backed by investors Elevation Capital, Better Capital, and Eximius Ventures, has raised over $5.2 million and aims to reach a transaction volume of $750 million by March 2025. Skydo competes with other cross-border payment providers such as XFlow, PayGlocal, Winvesta, and Salt.

Elevation Capital-backed fintech Skydo plans new funding round

VCCircle

VCCircle · 5m ago

Elevation Capital-backed fintech Skydo plans new funding round

Fintech startup Skydo, backed by Elevation Capital, is preparing to raise a new funding round to enhance its growth. The company is advancing towards offering a cross-border payments service, with significant progress highlighted by a top executive. Based in Bengaluru, Skydo recently achieved a milestone by securing necessary permissions from the Reserve Bank of India, aligning with its strategic development goals. This funding will support its expansion and service enhancement efforts.

Skydo secures RBI licence to offer cross-border payments

Economic Times

Economic Times · 5m ago

Skydo secures RBI licence to offer cross-border payments

Skydo Technologies, a Bengaluru-based cross-border payments company, has received in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator-Cross Border entity. With this license, Skydo plans to expand its offerings, simplify cross-border payments for over 12,000 Indian exporters, and increase its payments volume significantly. Additionally, it has secured Payment Service Provider approval from Amazon, enhancing its services for exporters in Amazon's Global Selling program. The company aims to broaden its operations to include credit and treasury services.

Peak XV Partners leads $40-mn Series B in Scapia

VCCircle

VCCircle · 3m ago

Peak XV Partners leads $40-mn Series B in Scapia

Scapia, a travel fintech startup focused on co-branded credit cards for Gen Z and millennials, raised $40 million in a Series B funding round led by Peak XV Partners, with backing from Elevation Capital and others. The funding will enhance product offerings, leverage AI, and foster growth. Scapia's credit card offers no fees, high rewards, and exclusive travel benefits. The startup previously raised $23 million in Series A and $9 million in seed funding.

SUGAR Cosmetics to raise $4.5 mn from Anicut, Malabar

Inshorts · 7m ago

SUGAR Cosmetics to raise $4.5 mn from Anicut, Malabar

Mumbai-based D2C Sugar Cosmetics is set to raise $4.5 million in what seems to be a tranche of funding from a host of investors, including Anicut Equity Continuum Fund, Elevation Capital, Malabar Investment and L Catterton among others. As per Inc42’s calculations, the startup secured the fresh funding round at a valuation of ₹2,600-₹2,700 crore.

Sugar.fit secures additional $5M in Series A

Inshorts · 1y ago

Sugar.fit secures additional $5M in Series A

Healthtech startup Sugar.fit has secured an additional $5 million in Series A funding led by B Capital, bringing the total funding raised in the round to $16 million. Existing investors MassMutual Ventures, Tanglin Venture Partners, Endiya Partners, and Cure.Fit also participated in the round.

IPV again backs Edtech startup MyCaptain, Mufin Green Finance secures debt investment

VCCircle

VCCircle · 1y ago

IPV again backs Edtech startup MyCaptain, Mufin Green Finance secures debt investment

Edtech startup MyCaptain has secured $1.7 million in funding from investors including Inflection Point Ventures and Ankur Capital. The funds will be used to expand the company's presence in new cities, establish sales centers, and launch additional courses. MyCaptain, founded in 2016, offers career guidance and practical skills training to students in various fields. Another company, non-banking finance player Mufin Green Finance, has raised $5 million in debt funding from impact investor BlueOrchard. The funding will support Mufin's green and energy initiatives, particularly in the electric vehicle sector.

MENA DIGEST: Saudi Arabian tech startups lead funding activity this week

VCCircle

VCCircle · 6m ago

MENA DIGEST: Saudi Arabian tech startups lead funding activity this week

Saudi Arabian tech startups led the MENA funding activity this week. Calo, a foodtech startup, raised $25 million in a Series B round, aiming for a $50 million extension and a 2027 IPO. The round was led by Nuwa Capital with participation from STV and others. Edtech startup YNMO secured $5 million, led by Wa’ed Ventures, to expand its AI-based rehabilitation services for children with disabilities, enhancing partnerships across the Gulf region.

SarvaGram In Talks With Peak XV, Apis Partners & Others To Raise $50 Mn Funding

Inc42 · 10m ago

SarvaGram In Talks With Peak XV, Apis Partners & Others To Raise $50 Mn Funding

SarvaGram, an Indian fintech startup, is currently in talks to raise a new funding round with a projected valuation of $170 million to $200 million. The round is expected to be led by venture capital firms Peak XV, Apis Partners, Beams Fintech Fund, and Creation Investments Capital Management LLC. In the previous year, SarvaGram successfully raised $35 million in a Series C funding round with participation from Elevar Equity, Elevation Capital, Temasek, and TVS Capital Funds.

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