India, Feb. 24 -- Bengaluru-based cross-border payments startup Xflow has raised $16.6 Mn (Rs.151 Cr) in a Series A round led by General Catalyst. Existing investors Square Peg, Stripe, Lightspeed and Moore Capital also participated in the round, PayPal Ventures has joined the startup's cap table as its new investor.

The round values the startup at $85 Mn. With this, Xflow has raised over $32 Mn to date.

Besides the funding round, the startup has also received full approval for the Payment Aggregator Cross Border (PA-CB) licence for both exports and imports. It had received in-principle approval last year.

With the final authorisation in place, Xflow is now planning to soon launch services that allow Indian businesses to also send mone...