XFlow, a financial services and infrastructure company, has successfully raised $10.2 million in a pre-Series A funding round. Led by Square Peg Capital and with participation from Moore Strategic Ventures, as well as existing investors Lightspeed and General Catalyst, this funding infusion marks a significant milestone for XFlow.
The newly acquired funds will be instrumental in expanding XFlow’s product capabilities, allowing them to support additional currencies and local payment methods. Moreover, the company plans to utilize the investment to foster business growth in India and beyond. This expansion strategy includes strengthening the team across key areas such as engineering, sales, marketing, and operations.
XFlow’s efforts in simplifying cross-border payments for Indian companies have gained recognition, and the founding team’s expertise in compliance, risk management, product development, and engineering has positioned them strongly in the industry, as noted by Bejul Somaia, Partner at Lightspeed.
With this recent funding, XFlow has raised a total of $16.2 million to date. In a previous seed funding round, the company raised $6 million, with participation from Lightspeed, Stripe, and General Catalyst. Anand Krishna, CEO and Founder of Inkle, a chat-based accountant product, commended XFlow for its seamless, compliant handling of their needs, volumes, and unique situations.
The future looks promising for XFlow as it continues to streamline and innovate cross-border payments, delivering efficient and reliable solutions for businesses.
In 2021, Anand Balaji and Ashwin Bhatnagar established XFlow with the vision of simplifying cross-border payments for businesses. Their innovative startup enables seamless and compliant international transactions for a wide range of businesses, from freelancers and small-medium enterprises to large enterprises. XFlow has already made significant strides in the Indian market, collaborating with prominent companies such as Inkle, iCliniq, and WeWork India. By providing a reliable and regulatory-compliant platform, XFlow empowers businesses of all sizes to effortlessly engage in global transactions.
