Bengaluru-based cross-border fintech firm Xflow has raised $16.6 million in a Series A round led by General Catalyst, with participation from existing backers Square Peg, Lightspeed and Stripe, and a new investor, PayPal Ventures. The round values the company at about $85 million post-money and will fund product development and geographic expansion.
What Xflow does and its market focus
Founded in 2021 by Anand Balaji, Ashwin Bhatnagar and Abhijit Chandrasekaran, Xflow provides cross-border payment solutions tailored to Indian exporters, SaaS firms, global capability centres (GCCs), IT services and freelancers receiving payments from overseas clients. Its platform enables businesses to collect international payments in multiple currencies while addressing conversion, compliance and settlement challenges common with traditional banking routes.
Technology and product capabilities
Xflow emphasises a digital-first approach and has built an AI-powered treasury decision support system to help finance teams optimise foreign exchange conversions. This tool is intended to aid decision-making during periods of currency volatility, reduce hidden charges and increase transparency in settlement cycles.
Regulatory approvals and strategic plans
The startup holds authorisation from the Reserve Bank of India as a Payment Aggregator – Cross Border (PA-CB) for both exports and imports, a key credential in India’s regulated fintech environment. With the new capital, Xflow plans to strengthen its payments infrastructure, expand into markets such as Singapore, Europe and the Middle East, and invest further in product innovation to support Indian firms scaling globally.
Investor sentiment and sector context
The involvement of global investors including General Catalyst and PayPal Ventures signals growing international confidence in Indian fintech. As cross-border trade and digital exports expand, demand for seamless, compliant payment rails is rising, presenting an opportunity for startups like Xflow to capture long-term market share by combining regulatory compliance, competitive pricing and technology-driven services.
