Xflow Raises $16.6M for Payments
Cross-border payments startup Xflow has secured $16.6M in a Series A round to expand its infrastructure for e-commerce merchants. The funding, alongside other recent investments in social commerce enablers like Wishlink, signals strong VC confidence in platforms that simplify digital payments and social selling for small businesses.
The Series A round was led by General Catalyst, with participation from existing investors Square Peg, Stripe, and Lightspeed. PayPal Ventures also joined as a new investor, making Xflow the first Indian fintech to be backed by both Stripe and PayPal. This brings Xflow's total funding to over $32 million. The funding coincides with Xflow receiving final authorization from the Reserve Bank of India for Payment Aggregator–Cross Border (PA-CB) licenses for both imports and exports. This dual licensing places the company in a select group and significantly expands its operational scope for powering commerce in and out of India. Founded in 2021 by former Stripe executives Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, the Bengaluru-based startup aims to simplify global money movement for businesses. The founders' background is in building payment infrastructure, which is now being applied to solve common pain points for Indian exporters, such as multi-day transfer times and high foreign exchange markups from traditional banks. Xflow reported 10x growth in 2025, expanding its customer base to nearly 15,000 businesses, including SaaS companies, IT service exporters, and goods exporters. The company processed nearly $1 billion in annualized cross-border payment volume, enabling collections from over 100 countries in more than 25 currencies. Instead of being a direct payments application, Xflow focuses on providing infrastructure and APIs that allow other platforms, like Drip Capital and Easebuzz, to embed its cross-border capabilities. The new capital will be used to build additional products, secure regulatory licenses in new markets like Singapore, and further scale its operations.
