Stripe, PayPal Ventures Bet On India’s Xflow To Fix Cross-Border B2B Payments

Why Cross-Border B2B Payments Still Frustrate Indian Exporters

Indian exporters moving millions across borders still face a frustrating reality: slow bank transfers, hidden fees, and zero visibility into when rupees will actually land. While domestic payments in India have been revolutionized by instant systems like UPI, the cross-border B2B experience remains stuck in the past. Business owners often wait days for settlements, struggle to predict final payout amounts after currency conversion, and juggle manual reconciliation across time zones. This friction isn't just an inconvenience—it directly impacts cash flow, payroll timing, and operational confidence for companies scaling globally. That's precisely the gap Xflow aims to close with its newly funded infrastructure.

Credit: Xflow

How Xflow's Infrastructure Simplifies International Money Movement

Xflow provides a dedicated payment rail designed specifically for businesses that earn in foreign currencies but operate in India. Instead of relying on traditional correspondent banking chains, the platform lets exporters, SaaS companies, freelancers, and digital platforms collect payments from clients in over 100 countries and 25+ currencies. The system then handles foreign exchange conversion transparently and settles funds directly into Indian bank accounts in rupees. Crucially, businesses gain real-time visibility into fees, exchange rates, and expected settlement timelines before initiating a transfer. This end-to-end clarity reduces financial uncertainty and frees finance teams from manual tracking. For companies managing recurring international revenue, that predictability is transformative.

Stripe and PayPal Ventures Back a Founder Who Knows the Pain

The $16.6 million Series A round signals strong confidence from payments insiders who've seen this problem up close. General Catalyst led the all-equity round, with participation from existing backers Square Peg, Lightspeed, and Moore Capital. Notably, both Stripe and PayPal Ventures joined as strategic investors—a rare dual endorsement from two giants in global payments. This backing carries extra weight because Xflow's co-founder Anand Balaji previously helped build Stripe's India business. He experienced firsthand how complex cross-border settlement could be for local companies. Alongside fellow ex-Stripe colleagues Ashwin Bhatnagar and Abhijit Chandrasekaran, Balaji founded Xflow in 2021 with a mission to modernize this broken layer of global trade infrastructure. Their insider perspective shapes a product built for real-world exporter needs, not just theoretical efficiency.

What $1 Billion in Processed Volume Signals for Xflow's Growth

Momentum is already visible in the numbers. Last year, Xflow processed close to $1 billion in annualized cross-border payment volume—a tenfold jump from 2024. This surge reflects growing trust from Indian businesses moving beyond early adoption into core operational use. Companies aren't just testing the platform for small transactions; they're relying on it to fund salaries, pay vendors, and manage working capital across borders. The $85 million post-money valuation following this round gives Xflow runway to expand its compliance frameworks, deepen banking partnerships, and enhance its FX pricing engine. As global digital services trade continues to grow, especially from Indian tech and export sectors, the demand for reliable, transparent cross-border rails will only intensify. Xflow's traction suggests it's aligning with that macro shift at the right moment.

The Road Ahead for Xflow Cross-Border Payments in Global Trade

With fresh capital and strategic backing, Xflow's next phase focuses on scaling reliability while expanding currency and corridor support. The team plans to invest heavily in regulatory technology to navigate India's evolving foreign exchange guidelines while maintaining speed. They're also exploring deeper integrations with accounting and ERP systems to automate reconciliation—a major pain point for finance teams handling hundreds of international invoices. Long-term, the vision extends beyond India: building a modular payments infrastructure that other emerging markets could adopt for their own cross-border challenges. For now, the immediate priority remains delivering seamless, transparent money movement for Indian exporters who power so much of the world's digital and physical supply chains. As Balaji notes, the goal isn't just faster transfers—it's giving businesses the confidence to grow globally without financial friction holding them back. In a world where cross-border commerce is the norm, not the exception, that promise could redefine how emerging market companies participate in the global economy. The convergence of strategic investor expertise, founder experience, and clear market need positions Xflow not just as a fintech player, but as critical infrastructure for the next decade of international trade.