Cross-border payments startup Xflow has secured $16.6 million in a fresh funding round led by existing investor General Catalyst.
US-based digital payments major PayPal has participated in the round as a new investor. Other existing investors — Lightspeed, Stripe, Moore Capital and Square Peg — have also participated.
With this round, Xflow has raised $32 million over three institutional funding rounds. The startup had last raised $10 million in 2023.
Anand Balaji, cofounder of Xflow, told ET that the company plans to use the funds to build new products in the cross-border payments space and expand its customer base in India.
Xflow was founded in 2021 by ex-Stripe senior executives Anand Balaji, Ashwin Bhatnagar and Abhijit Chandrasekaran, with a focus on cross-border digital payment transactions flowing into and out of India.
In 2025, Xflow said it enabled Indian businesses to collect payments from more than 100 countries in more than 25 currencies.
The company added that its software stack, FX AI Analyst, helps businesses make data-driven treasury management decisions, thereby helping them save on foreign exchange.
“We are also planning on acquiring more licences and entering new geographies outside India, like Singapore, the Middle East and Europe, and we are evaluating a licence in India's Gift City,” Anand told ET.
Xflow has secured full authorisation to operate as a cross-border payment aggregator from the Reserve Bank of India. It competes with various companies, including Razorpay, PayGlocal and Cashfree.
Anand said that the company is already working with around 50 corporate entities, powering all their cross-border payment requirements. Overall its customer base stands at nearly 15,000, with users from across SaaS companies, GCCs (Global capability centres), ITeS companies (IT service exporters), and goods exporters.
US-based digital payments major PayPal has participated in the round as a new investor. Other existing investors — Lightspeed, Stripe, Moore Capital and Square Peg — have also participated.
With this round, Xflow has raised $32 million over three institutional funding rounds. The startup had last raised $10 million in 2023.
Anand Balaji, cofounder of Xflow, told ET that the company plans to use the funds to build new products in the cross-border payments space and expand its customer base in India.
Xflow was founded in 2021 by ex-Stripe senior executives Anand Balaji, Ashwin Bhatnagar and Abhijit Chandrasekaran, with a focus on cross-border digital payment transactions flowing into and out of India.
In 2025, Xflow said it enabled Indian businesses to collect payments from more than 100 countries in more than 25 currencies.
The company added that its software stack, FX AI Analyst, helps businesses make data-driven treasury management decisions, thereby helping them save on foreign exchange.
“We are also planning on acquiring more licences and entering new geographies outside India, like Singapore, the Middle East and Europe, and we are evaluating a licence in India's Gift City,” Anand told ET.
Xflow has secured full authorisation to operate as a cross-border payment aggregator from the Reserve Bank of India. It competes with various companies, including Razorpay, PayGlocal and Cashfree.
Anand said that the company is already working with around 50 corporate entities, powering all their cross-border payment requirements. Overall its customer base stands at nearly 15,000, with users from across SaaS companies, GCCs (Global capability centres), ITeS companies (IT service exporters), and goods exporters.