Xflow: Making B2B Cross-Border Payments As Easy As Local Ones
- ByStartupStory | May 28, 2025
Launched in late 2022, Xflow has emerged as a pioneering force in transforming the way Indian businesses handle international payments. Behind this fintech innovation are Anand Balaji, Ashwin Bhatnagar, and Abhijit Chandrasekaran, three ex-Stripe professionals who set out to solve a deeply rooted pain point: the complexity and opacity of cross-border B2B transactions.
“I (Anand) had graduated from NIT Trichy in 1999 and Wharton in 2010. I’ve worked across software development, product management, sales, marketing, and business development. I was part of the amazon.in launch team and then led Stripe’s India operations from 2016 to 2021,” Anand shared, offering a glimpse into his vast industry experience before co-founding Xflow.
The inspiration for Xflow came directly from their conversations with customers. As Anand explains, “We spoke to B2B merchants and realized how painful and uncertain crossborder payments were for them. They didn’t know how long payments would take, what exactly would be received, or how much it would cost—plus, compliance was a nightmare.” That’s when the idea struck: “This seemed like a payment experience that needed re-imagination.”
Founded amidst the Covid Delta wave in May 2021, the early stages of Xflow were built remotely. “The fundraising process, the hiring, and initial product building were all remote. We were fortunate to start working with financial partners who trusted us without in-person meetings. By October 2021, we were finally able to come together in a physical space.”
Xflow officially launched in November 2022, beginning with just three customers who not only used the platform but also provided critical feedback that helped fine-tune the product. Since then, Xflow has grown rapidly. “We now serve more than 7,000 customers and 50+ platforms, processing tens of millions of dollars monthly,” Anand noted.
So, what exactly does Xflow offer?
“We help Indian businesses receive money from abroad to India in the most transparent and fastest way—all at a much lower cost,” said Anand. Key features include:
- Same/next business day settlements in any Indian bank account.
- Unlimited transaction amounts, unlike typical restrictions by non-bank players.
- Support for 25+ currencies, not just USD.
- Transparent pricing—users know the FX rates and transfer charges upfront.
- Up to 50% savings in money transfer fees.
- API infrastructure for platform-level integration.
- FX rate locking and Zoho integrations for seamless accounting.
- Local payment acceptance for international merchants.
Anand adds, “Very few customers actually knew how much they were being charged. So we built a tool on our website where anyone, not just our users, can check what their provider is charging them.”
At its core, Xflow’s strength lies in its collaborative team. “Crossborder payments is a team sport. Our regulatory, partnership, design, ops, engineering, product, sales, and marketing teams all play a role. Even our financial partners and early customers were crucial to our journey.”
When it comes to competition, Anand says, “We compete with the status quo—traditional banks. Merchants often don’t realize how high their costs are, and experiences vary drastically based on the bank. We offer faster, cheaper, and more transparent solutions.”
Maintaining a healthy work environment has been a key priority. “Just three months into our journey, we laid down our cultural values—customer obsession, trust, transparency, urgency, and big thinking. We foster strong ownership and a lean, tech-driven approach.”
Looking ahead, Xflow has ambitious plans. “We want to expand our product suite to serve more customer segments in India. Beyond money movement, we’re exploring compliance, tax, FX, and treasury solutions. We’re also applying for licenses in other countries. Our vision is to become the finance platform for global money movement.”
Xflow has already raised over $16 million from marquee investors including Lightspeed, General Catalyst, Square Peg, and Stripe. But as Anand puts it, “Right now, we’re focused on building and growing our business.”
Customer feedback has been overwhelmingly positive. “Our customers love our speed, clarity, and support. But we had to earn their trust. Moving millions through a new startup is no easy task. Working with top global financial institutions helped build that trust. And when customers didn’t know how much they were really paying, we busilt a tool to show them.”
When asked about advice for budding entrepreneurs, Anand humbly states, “It’s too early for me to give advice. But one thing we’ve learned: work closely with your customers to understand their problems—not how they think it should be solved. Think from first principles. Our journey started with listening to B2B merchants frustrated with crossborder payments.”
With a team that believes in first-principles thinking and a product that simplifies global finance, Xflow is well on its way to redefining how Indian businesses engage with the world.
Follow Startup Story
Related Posts
