Xflow, India’s leading B2B cross-border payments platform, has raised $16.6m in a Series A funding round at an $85m valuation, becoming the first Indian FinTech backed by both Stripe and PayPal Ventures.
The round was led by General Catalyst, with participation from existing investors Square Peg, Stripe, Lightspeed, and Moore Capital, alongside new investor PayPal Ventures. The raise brings Xflow’s total funding to over $32m, making it India’s best-capitalised cross-border payments platform, it claims.
The funding follows a breakout year for the company, which grew 10× in 2025 and scaled its customer base to nearly 15,000 users spanning SaaS companies, GCCs, ITeS firms, and goods exporters. Xflow also provides its international payments infrastructure to FinTechs including Drip Capital and Easebuzz.
Alongside the funding announcement, Xflow confirmed it has received final PA-CB authorisation for both exports and imports, making it one of a handful of companies to hold both licences. The PA-CB-Imports licence opens access to a new segment of overseas merchants and payment aggregators, while the PA-CB-Exports licence strengthens its existing offering.
Xflow enables Indian businesses to collect payments from over 100 countries across more than 25 currencies. Its FX AI Analyst tool supports data-driven treasury management decisions, helping businesses earn an average of an extra 8–10 paise per dollar. Users cite faster payouts, transparent pricing, and compliance support as key reasons for choosing the platform. The company has built a team of over 60 payments professionals across regulatory, risk, partnerships, and product functions.
Xflow co-founder Anand Balaji said, “This Series A is a vote of confidence in the Xflow team’s abilities to innovate and deliver on behalf of our customers. With final PA-CB authorisation for both exports and imports, we are uniquely positioned to power cross-border commerce in and out of India at scale.”
General Catalyst managing director Alex Tran said, “At General Catalyst, we believe the next wave of global fintech infrastructure will be built in India – and Xflow is one of the companies leading that charge.
“Their growth, product velocity, and deep focus on execution set them apart in a complex category. We’re excited to continue backing Anand, Ashwin, Abhijit and the Xflow team as they expand their vision into global payments at scale.”
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