Xflow Raises $16.6 Mn Series A, Becomes First Indian Fintech Backed by Both Stripe and PayPal Ventures

Bengaluru-based fintech startup Xflow has raised $16.6 million in a Series A funding round, marking a major milestone in India’s fintech ecosystem. The all-equity round was led by General Catalyst and values the company at $85 million post-money.

With this round, Xflow becomes the first Indian fintech startup to have both Stripe and PayPal Ventures as investors, underlining its growing credibility in the global payments landscape. Existing investors Square Peg, Stripe, Lightspeed, and Moore Capital also participated, while PayPal Ventures joined the cap table as a new investor. With this raise, Xflow’s total funding has crossed $32 million, following its $10.2 million pre-Series A round in May 2023.

Founded in 2021 by former Stripe India head Anand Balaji, along with Ashwin Bhatnagar and Abhijit Chandrasekaran, Xflow is building a modern B2B cross-border payment infrastructure tailored for Indian businesses operating globally.

The platform enables Indian exporters, SaaS companies, and freelancers to collect international payments seamlessly, while handling compliance, FX, reconciliation, and settlement, areas that have traditionally been fragmented and operationally complex. By focusing on B2B use cases, Xflow addresses a fast-growing segment of India’s digital exports economy.

Xflow’s growth trajectory has been striking. In 2025, the company processed close to $1 billion in annualized cross-border payment volume, representing nearly a 10x increase compared to 2024. This momentum reflects rising global demand for Indian SaaS, services, and freelance talent, and the need for reliable payment rails to support that demand.

The newly raised capital will be used to expand product capabilities, strengthen global payment partnerships, and scale the team across engineering, compliance, and go-to-market functions. Xflow also plans to deepen its presence in key export corridors while continuing to build a developer-friendly and enterprise-grade payments platform.

As India’s cross-border digital economy accelerates, Xflow is positioning itself as a foundational fintech layer, connecting Indian businesses to global markets with speed, transparency, and trust.