“Can a flat-fee, RBI-licensed virtual-account platform become the financial OS for India's 40,000+ small and mid-market exporters as they move off SWIFT and PayPal?”
Founded in 2022 to address the friction Indian exporters face when receiving foreign payments via SWIFT and PayPal. Skydo built local virtual receiving accounts (USD/EUR/GBP/CAD/AUD/SGD) backed by partner banks, charging flat fees with zero FX margin. With RBI's PA-CB framework formalised in late 2023, Skydo secured final PA-CB authorisation, positioning it alongside Razorpay, Cashfree, and Pay10 in the regulated cross-border collections space for Indian MSMEs. The Amazon PSP license and Series A in 2025 mark a shift from pure collections to a broader 'financial OS for exporters' — adding payouts to Indian vendors/contractors and AI-driven compliance.
Skydo discloses Partner banks (undisclosed) — Skydo operates virtual receiving accounts via regulated banks in US, UK, EU, Canada, Singapore, Australia as its banking provider, according to the Embedded Finance Index 2026.
Skydo does not disclose a bank charter of its own; its banking services are provided through Partner banks (undisclosed) — Skydo operates virtual receiving accounts via regulated banks in US, UK, EU, Canada, Singapore, Australia.
Skydo processes payments through Skydo PA-CB (in-house) and Skydo InstaLinks (self-operated). Disclosed money-movement rails: ACH.
Skydo uses Skydo (in-house FX via partner banks) for FX and cross-border payouts.
Skydo integrates with Zoho Books.
The Embedded Finance Index 2026 maps 5 layers in Skydo's stack: Payments / PSP (Skydo PA-CB (in-house) and Skydo InstaLinks (self-operated)); Money movement (ACH); Banking / BaaS (Partner banks (undisclosed) — Skydo operates virtual receiving accounts via regulated banks in US, UK, EU, Canada, Singapore, Australia); FX & payouts (Skydo (in-house FX via partner banks)); Accounting (Zoho Books).
Skydo was founded by Srivatsan Sridhar and Movin Jain and is founded in 2022, headquartered in Bengaluru, Karnataka, India.
Get a read on where your own stack stands against Skydo and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.