India’s XFlow Raises US$10.2 Million to Enhance Cross Border Payments

India’s XFlow Raises US$10.2 Million to Enhance Cross Border Payments

by May 29, 2023

XFlow, a financial services and infrastructure company that simplifies the cross-border payments for businesses, has raised a US$10.2 million Pre-Series A funding round led by Square Peg.

The round was also joined by Moore Strategic Ventures and existing investors Lightspeed and General Catalyst.

With the fresh funds, XFlow will be growing its team across key engineering, sales, marketing and operational roles. It is also looking to expand geographically beyond India.

Founded in 2021 by Anand Balaji and Ashwin Bhatnagar, XFlow has a full-stack payments platform to simplify cross-border payments. XFlow’s clients include companies such as WeWork, Inkle and iCliniq.

Anand Balaji

Anand Balaji

“With this new round of funding, we aim to increase the number of currencies we support, expand coverage of local payment methods in various countries and support all kinds of businesses in India.

 

XFlow also offers seamless API infrastructure for platforms to integrate cross border payments within their experiences. This is arguably the only product that makes it this easy to integrate global payments,”

said Anand Balaji, Co-Founder and CEO of XFlow.