Cross-border payments fintech Skydo raises $5 mn from Elevation Capital

Cross-border payments fintech Skydo on Tuesday raised $5 million in a pre-Series A round led by the firm’s existing investor Elevation Capital.

The company will use the raised funds to expand its operations and invest in its risk monitoring and compliance systems.

The firm had previously raised $5.2 million in a seed round led by Elevation Capital in 2022.

The company said it has applied for the Cross-Border Payment Aggregator (PA-CB) licence from the Reserve Bank of India (RBI).