Bengaluru, February 24, 2026 – Xflow, a B2B cross-border payments platform, has secured $16.6 million in Series A funding, led by General Catalyst, with participation from existing investors Square Peg, Stripe, Lightspeed, Moore Capital, and a new investment from PayPal Ventures. The funding round values the company at $85 million, according to a statement released today.
The investment marks a significant milestone for Xflow, positioning it as India’s best-capitalised cross-border payments platform, having raised over $32 million across three institutional funding rounds. The company previously raised $10 million in 2023.
Xflow’s co-founder, Anand Balaji, stated the Series A funding is “a vote of confidence in the Xflow team’s abilities to innovate and deliver on behalf of our customers.” The company has also secured final authorisation from the Reserve Bank of India as a Payment Aggregator – Cross Border (PA-CB) for both exports and imports, a key regulatory step for scaling its operations.
The PA-CB-Import license allows Xflow to serve overseas merchants and payment aggregators, while the PA-CB-Export license strengthens its existing capabilities, according to the company. This dual authorisation is relatively rare, placing Xflow among a tiny group of companies with full cross-border payment permissions in India.
In 2025, Xflow facilitated cross-border payments for Indian businesses from over 100 countries, processing transactions in more than 25 currencies. The company’s FX AI Analyst tool, designed to help businesses manage foreign exchange risk, has reportedly enabled clients to earn an average of 8-10 paise more per dollar exchanged.
Xflow’s growth in 2025 was substantial, with a reported tenfold increase in business. The company now serves nearly 15,000 users, including SaaS companies, Global Capability Centres (GCCs), ITeS companies, and goods exporters. Xflow also provides its infrastructure to other fintech companies, such as Drip Capital and Easebuzz.
Alex Tran, Managing Director at General Catalyst, commented, “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.”
Founded in 2021 by former Stripe senior executives Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, Xflow currently employs a team of over 60 payments experts across regulatory, risk, partnerships, and product development. The company plans to use the new funding to expand its product offerings and customer base, and to explore expansion into new geographies, including Singapore, the Middle East, and Europe, with potential licensing in India’s Gift City.
