Cross-border payment platform XFlow raises $16.6M in Series A round led by General Catalyst

Business-to-business (B2B) cross-border payments platform XFlow has raised $16.6 million in a Series A funding round led by General Catalyst. This values the company at $85 million.

The round also saw participation from existing investors Square Peg, Stripe, Lightspeed, Moore Capital, and new investor PayPal Ventures.

“This Series A is a vote of confidence in the Xflow team’s abilities to innovate and deliver on behalf of our customers. With final PA-CB (payment aggregator-cross border) authorisation for both exports and imports, we are uniquely positioned to power cross-border commerce in and out of India at scale,” said Anand Balaji, Co-Founder of Xflow.

A PA-CB import and export licence refers to a regulatory authorisation issued by the Reserve Bank of India (RBI) in India, which allows a company to operate as a cross-border payment aggregator.

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XFlow raises $10.2M pre-Series A funding from Square Peg and others

XFlow said in 2025 it has grown 10X, expanded its product footprint, and scaled its customer base to nearly 15,000 users across SaaS companies, GCCs, IT service exporters, and goods exporters. The firm also provides its international payments infrastructure to fintech firms including Easebuzz and Drip Capital.

The fundraise has been timed to capitalise on the company’s recent achievements and also to scale into new geographies, said XFlow.

“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,” said Alex Tran, Managing Director, General Catalyst.

Edited by Swetha Kannan

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