-based B2B cross-border payments platform, Xflow has raised $16.6 million in a Series A round led by General Catalyst at a valuation of $85 million. The round saw participation from Square Peg, Stripe, Lightspeed, Moore Capital and PayPal Ventures.
The company said it has raised over $32 million to date. It also received final Payment Aggregator – Cross Border (PA-CB) authorisation for both exports and imports.
Xflow said it is now among a group of firms that hold both PA-CB-Import and PA-CB-Export licences. The import licence allows it to serve overseas merchants and payment aggregators. The export licence supports its existing product offering.
The company reported 10× growth in 2025. It expanded its product offering and increased its customer base to nearly 15,000 businesses. These include SaaS firms, GCCs, IT services exporters and goods exporters.
In 2025, Xflow enabled collections from over 100 countries in more than 25 currencies. It said its FX AI Analyst helped users make treasury decisions and earn an additional 8–10 paise per dollar on average.
Xflow also provides payments infrastructure to fintech firms such as Drip Capital and Easebuzz.
Anand Balaji, Co-founder of Xflow, said, “This Series A is a vote of confidence in the Xflow team’s abilities to innovate and deliver on behalf of our customers”.
He added that with final PA-CB authorisation for both exports and imports, the company is positioned to enable cross-border commerce into and out of India at scale.
Alex Tran, Managing Director at General Catalyst, said, “We believe the next wave of global fintech infrastructure will be built in India”.
He added that Xflow’s growth and focus on execution set it apart in the sector. “We are excited to continue backing Anand, Ashwin, Abhijit and the Xflow team as they expand their vision into global payments at scale,” he said.
Founded by Anand Balaji, Ashwin Bhatnagar and Abhijit Chandrasekaran, Xflow supports global money movement by enabling international transactions, currency conversion, settlements and regulatory compliance. The company serves over 10,000 businesses and has processed hundreds of millions in cross-border transactions.
(With inputs from BL intern Tejaswini S)