XFlow team / Photo credit: XFlow
XFlow, an India-based fintech company, has secured US$10.2 million in a pre-series A round led by Square Peg, with participation from Lightspeed, General Catalyst, and Moore Strategic Ventures.
Founded by Anand Balaji and Ashwin Bhatnagar in 2021, XFlow provides cross-border payments infrastructure that enables businesses to send and receive money globally.
Funding details
- Funding amount: $10,200,000
- Lead investor: Square Peg Capital
- Other investors: Moore Strategic Ventures, General Catalyst (GC), Lightspeed
- Stage: Pre-series A
Its clients – which include the likes of Inkle, iCliniq, and WeWork India – can embed XFlow’s infrastructure into their platforms.
According to Square Peg, the estimated value of cross-border payments in India reaches US$150 trillion while continuing to see growth.
XFlow will use the new capital to expand its product to support more currencies and local payment methods. It also looks to expand internationally but it didn’t provide further details.
The fintech firm previously raised US$6 million in a seed round led by Lightspeed, Stripe, and General Catalyst.
See also: Winners and losers of SG and India’s novel PayNow-UPI linkage
More details
XFlow→The company was founded in 2021 by Ashwin Bhatnagar and Anand Balaji. |
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