XFlow, our portfolio company has raised $10.2 million in a pre-series A funding round from Square Peg Venture Capital Ltd. , Lightspeed India, and General Catalyst.
Xflow aims to simplify the complex process of cross-border transactions by leveraging cutting-edge technology and providing businesses with a seamless and efficient platform.
The funds raised will be deployed towards expanding the product capabilities to support more currencies and local payment methods as well as growing business in India.
Established in 2021 by Anand Balaji and Ashwin Bhatnagar, XFlow is designed to help businesses send and receive cross-border payments in a compliant and regulatory manner. The total exports and imports from India exceed $1 trillion, while globally cross-border payments exceed $150 trillion, making it a huge yet untapped market.
XFlow simplifies the cross-border payments experience for businesses of all sizes – from freelancers to small and medium enterprises all the way to large platform enterprises serving millions of customers. The XFlow infrastructure makes it easy to embed cross-border payments in existing platforms.
This makes it the first of its kind to enable a convenient & compliant medium for cross-border transactions without limit restrictions, enabling clients to receive payments the very next business day. The product is currently being used by Indian businesses such as Inkle, iCliniq, and WeWork India for international transactions.