New Delhi, May 19 -- Xflow Payments India, a payments-processor backed by General Catalyst and Lightspeed Venture Partners, is focussing on attaining cross-border licenses in various countries to fuel growth.
Additionally, the company is also looking to add new products to its suite, according to a senior official.
"From a licensing perspective, we are evaluating a few more countries that we should be present in right now. Specifically, we are looking at the United States, United Kingdom, Ireland, Singapore and Hong Kong," Ashwin Bhatnagar, co-founder, Xflow Payments said in an interaction.
Bhatnagar added that the company intends to obtain a new set of licenses by mid-2027.
Earlier this year, the Singapore-registered company attained a payment aggregator- cross border(PA-CB) license issued by the Reserve Bank of India. Xflow has received an in principle approval for a payment service provider license in GIFT City. Separately, the firm operates in Canada under a Money Services Business (MSB) license.
Xflow Payments India owns and operates an online payment platform Xflow. The platform offers cross-border payments for businesses of all sizes ranging from freelancers to small and medium enterprises. The platform offers help with reconciliation of invoices, tracking payouts and automation of workflows. It also manages collection of payments for customers.
Recently, the company also enabled stable coin acceptance for merchants in India. Its peers include Skydo and Briskpe among others.
With a bottomline of Rs 3.9 crore in FY25, the company has posted profits for four straight years even as many of its peers are in the red. While Xflow refrained from providing specific numbers, the company processed payments worth $1 billion in FY26 on an annualised basis.
Going ahead, Xflow intends to scale up its key customer segments by 10x in FY26. It will also focus on expanding its product offerings and deploy generative artificial intelligence. However, the company did not provide any details on the nature of the new products.
"We do not intend to increase headcount exponentially. There is a lot more operating leverage that we can get out of our existing setup. We intend to double down on generative AI," Bhatnagar said.
"As we launch new products and expand into more geographies, we want to stay invested in risk compliance and operations such that we do not let any bad actors slip through," he added.
Earlier this year, Xflow raised $16.6 million (around Rs 150 crore) in a series A funding round led by General Catalyst. The round also witnessed participation from Square Peg, Stripe, Lightspeed Venture Partners, Moore Capital and PayPal Ventures.
Bhatnagar said that they will not be actively going out in the market and looking to raise capital and that they are well funded.
Published by HT Digital Content Services with permission from VC Circle.