Skydo is an online payment platform that enables businesses to receive international payments with zero foreign exchange margins and flat fees, ensuring transparency in transaction costs. The platform provides instant Foreign Inward Remittance Advice (FIRA) and real-time payment tracking, addressing the complexities and hidden fees associated with traditional banking methods.
Funding
$11M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional methods for receiving international business payments often involve hidden fees, unfavorable exchange rates, and a lack of transparency, leading to reduced profits and complex reconciliation processes for businesses. The complexities of dealing with foreign exchange margins and the delays in obtaining necessary documentation further exacerbate these challenges.
Solution
Skydo is a payment platform designed to streamline international transactions for businesses by offering zero foreign exchange margins and transparent, flat fees. The platform provides instant Foreign Inward Remittance Advice (FIRA) and real-time payment tracking, allowing businesses to monitor their funds and simplify accounting. By providing local receiving accounts, Skydo enables businesses to expand into new markets with ease, offering a seamless experience for invoicing, payments, and accounting.
Target Audience
Skydo primarily targets freelancers, remote workers, and businesses that receive international payments and seek transparent, cost-effective solutions for managing their global transactions.
Features
- Zero foreign exchange margins on international payments
- Flat fee structure for predictable transaction costs
- Instant Foreign Inward Remittance Advice (FIRA) generation
- Real-time payment tracking, similar to shipment tracking
- GST-compliant invoicing capabilities
- Integration with multiple platforms for streamlined withdrawals
- Local receiving accounts for global banking