News | Xflow Wins RBI Approval as Cross-Border Payments Aggregator, Targets 30,000 Clients by Year-End

Xflow Wins RBI Approval as Cross-Border Payments Aggregator, Targets 30,000 Clients by Year-End

News

26 July 2025

1 min read

UBS Forums

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Indian fintech startup Xflow has secured in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator–Cross Border (PA‑CB-E&I), authorizing it to facilitate both import and export transactions. Co-founder and CEO Anand Balaji said the nod strengthens Xflow’s ambition to scale into a full-stack cross-border platform, targeting 30,000 businesses by end‑2025.

The company recently launched FX AI Analyst, touted as India’s first AI-powered forex insights tool, enabling businesses to monitor USD/INR trends and optimize currency conversions. So far, Xflow has raised USD 16.2 million in funding, including a USD 10.2 million seed round in May 2023 backed by Square Peg Ventures, with support from Lightspeed, General Catalyst, Moore Strategic Ventures, and Stripe.

With the RBI clearance, Xflow is now poised to widen its footprint as a trusted, regulated partner for cross-border payments in India, blending technology-led forex solutions with licensed compliance infrastructure.