Stripe, PayPal Ventures bet on India's Xflow to fix cross-border B2B payments

Major Funding Boost for Xflow's Cross-Border Ambitions

Xflow, a Bengaluru-based fintech startup, has secured $16.6 million in a Series A funding round, valuing the company at $85 million post-investment.

The round was led by General Catalyst, with participation from existing investors like Square Peg, Lightspeed, Moore Capital, and Stripe, alongside new backer PayPal Ventures.

This brings Xflow's total funding to over $32 million, making it the most well-funded platform for cross-border payments in India.

Notably, Xflow stands out as the first Indian fintech to receive support from both Stripe and PayPal Ventures, two giants in the global payments space.

Founded in 2021 by former Stripe executives Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, the company focuses on streamlining international money transfers for businesses.

Revolutionizing B2B Payments in a Fragmented Market

Cross-border B2B payments remain a pain point for businesses worldwide, often plagued by slow processing times, high fees, and complex compliance hurdles dominated by traditional banks.

Xflow addresses these issues by providing API-based infrastructure that allows platforms and exporters to embed seamless cross-border transactions into their own systems.

Rather than competing directly with consumer-focused apps, Xflow aims to empower a new generation of payment solutions.

In 2025 alone, the company experienced explosive 10x growth, expanding its customer base to nearly 15,000 users, including SaaS firms, global capability centers, IT service exporters, and goods exporters.

It enabled collections from over 100 countries in 25 currencies, partnering with fintechs like Drip Capital and Easebuzz to integrate its capabilities.

A key innovation is the FX AI Analyst, a tool that helps finance teams optimize currency conversions, yielding average savings of 8-10 paise per dollar through data-driven decisions.

Regulatory Wins and Expansion Plans Ahead

Xflow recently obtained final Payment Aggregator-Cross Border (PA-CB) authorization from the Reserve Bank of India for both exports and imports, positioning it uniquely to scale operations.

The startup already holds a payments license in Canada and is pursuing approvals in Singapore, the Middle East, Europe, and India's Gift City.

With around 65 employees, Xflow plans to use the fresh capital to develop new products, grow its customer base in India, and venture into additional markets.

said Anand Balaji, co-founder of Xflow.

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 authorisation for both exports and imports, we are uniquely positioned to power cross-border commerce in and out of India at scale,

The backing from Stripe and PayPal Ventures not only provides funds but also enhances credibility with banks and regulators, fueling commercial partnerships.

As India continues to emerge as a hub for payments innovation, Xflow's trajectory reflects broader trends in modernizing global trade finance.

In summary, Xflow's $16.6 million raise, led by General Catalyst and backed by Stripe and PayPal Ventures, underscores investor confidence in its mission to fix cross-border B2B payments. With regulatory approvals, rapid growth, and innovative tools like FX AI Analyst, the startup is poised to expand its infrastructure globally while serving thousands of Indian businesses more efficiently.