Xflow, the Indian business-to-business cross-border payments platform, has raised $16.6 million in a Series A funding round led by General Catalyst at a valuation of $85 million.
The round includes participation from Square Peg, Stripe, Lightspeed, Moore Capital and PayPal Ventures, making Xflow the first Indian fintech to be backed by both Stripe and PayPal Ventures and bringing its total capital raised to more than $32 million.
Xflow said it recorded tenfold growth in 2025 and now serves close to 15,000 customers, including software-as-a-service companies, global capability centres (GCCs), IT-enabled services firms and goods exporters.
The platform enables businesses to collect payments from more than 100 countries across 25 currencies and also supplies payments infrastructure to fintechs including Drip Capital and Easebuzz.
The company said its FX AI Analyst tool, which helps customers make treasury decisions using live data, delivers average additional returns of 8 to 10 paise per dollar.
Xflow has recently received final Payment Aggregator Cross-Border authorisation for both exports and imports from India's Reserve Bank, a regulatory milestone the company said positions it to handle two-way cross-border commerce at scale.
Co-founder Anand Balaji said the authorisation placed the company in a strong position to power international commerce in and out of India.
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Alex Tran, managing director at General Catalyst, said the firm believed the next wave of global fintech infrastructure would be built in India, describing Xflow as a company leading that shift.
Xflow said it plans to use the funding to expand into new geographies and grow its 60-person team across regulatory, risk, partnerships and product functions.
The recap
- Raised $16.6 million in Series A funding led by General Catalyst
- Company valuation at $85 million following the financing round
- Plans to scale into new geographies using the proceeds
