PE-VC Fund Investments
Cross-border payments enabler Xflow raises $16.6 M led by General Catalyst
Bengaluru-based cross-border payments enabler Xflow has raised USD 16.6 million (INR 151 crore) in a Series A round at a valuation of USD 85 million. The round was led by General Catalyst and saw participation from PayPal Ventures and existing investors, including Square Peg, Stripe, Lightspeed, and Moore Capital.Founded in 2021 by Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, Xflow is a B2B (business-to-business) fintech startup that streamlines cross-border payments for SMEs (small and medium enterprises) and serves SaaS firms, IT services exporters, global capability centres, goods exporters, and fintech players.The new funds will be used to expand go-to-market efforts in India, add more products to its core cross-border payments layer, and apply for international licences for market expansion.
Between Oct 2021 and May 2023, XFlow had attracted about USD 16 M from General Catalyst Partners, Lightspeed Ventures, Moore Strategic Ventures, Square Peg and others.For FY25, XFlow had reported about INR 30 Cr in Operating Income and about INR 4 Cr in PAT.
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