Cross border payments enabler Skydo raises $5-M

Bangalore-based cross border payments platform Skydo has raised USD 5 million funding round led by Elevation Capital with participation from a few angel investors. The funds will be utilised to increase its Total Payment Volume within the end of the year.This is the second equity infusion, after the startup’s USD 5 million raise from Elevation Capital in 2022.Founded in 2022 by Movin Jain and Sridharan Srivatsa, Skydo offers a platform to receive international payments with real-time payment tracking. The startup which supports small businesses and freelancers accept payments from outside India, has applied for a payment aggregator cross-border licence.