xPay

What do they actually do

xPay provides an international payments and billing-ops stack for SaaS companies that sell to customers abroad without setting up foreign entities or bank accounts. In one integration and dashboard, merchants get a payments gateway (cards + local methods), subscription billing, payment links, virtual bank accounts, invoicing/reconciliation tools, dispute handling, and basic receivables/payout operations (products page, docs) (xPay products, xPay docs).

Teams integrate via APIs/SDKs or an iframe, test in a sandbox, configure webhooks, and then operate from the dashboard for settlements and disputes. xPay advertises support across ~100+ countries and 30+ currencies, with onboarding listed as ~48 hours (docs) (docs – introduction, developer resources, subscriptions overview).

Pricing is positioned as a monthly subscription plus a small share of transactions, with customized pricing for larger customers. Early press coverage noted ~25 signed contracts and ~200 waitlisted within weeks of launch, with an expectation to process ~$5M annualized volume by the end of that month (xPay site, TechCrunch).

Who are their target customer(s)

• Early-stage India/SEA SaaS teams selling abroad without foreign entities or bank accounts.: They need to accept cards and local payment methods quickly and manage recurring billing, but lack the legal and banking setup to do so efficiently (xPay products, TechCrunch).
• Small finance/ops teams at bootstrapped SaaS firms.: They struggle to register for and remit VAT/GST across multiple countries and want automated tax collection/remittance to avoid manual filings (xPay products).
• Engineering/product teams seeking one integration for global checkout and subscriptions.: They want a single API/SDK, sandbox, webhooks, and virtual accounts instead of stitching together multiple providers (xPay docs).
• Finance operators at growth-stage SaaS companies.: They spend hours reconciling gateway transactions to bank settlements and invoices, and managing disputes and failed renewals; they need better reconciliation, dispute tools, and retry logic (xPay products, subscriptions docs).
• Founders/CFOs facing cross-border cashflow gaps.: Slow foreign remittances and settlement delays create working-capital strain; they want receivables management and short-term financing tied to processed payments (xPay products).

How would they acquire their first 10, 50, and 100 customers

• First 10: Founder-led outreach to waitlisted/inbound teams, with hands-on integration support, fee concessions, and fast 48‑hour onboarding to get live revenue quickly (docs, TechCrunch).
• First 50: Turn early learnings into a repeatable playbook: publish migration/how-to guides and sample integrations, run targeted webinars and VC/accelerator intros, and use a small BD team for qualified demos and concierge installs (products/docs, docs).
• First 100: Add channel partners (regional payfacs, accounting/tax firms, SaaS marketplaces), harden self-serve onboarding and pricing tiers, improve automated reconciliation outputs, and use case studies for top-of-funnel marketing (products/docs, docs).

What is the rough total addressable market

Top-down context:

India’s SaaS sector generates $5B+ in revenue and ~70% for larger players comes from global markets; APAC/SEA are large and growing, expanding the cross-border payments/tax surface (Zinnov/Chiratae, Zinnov global share, Statista/Temasek context, Temasek e-Conomy SEA 2024).

Bottom-up calculation:

Starting with ~$5B India SaaS revenue and ~70% exported (~$3.5B), assume ~50% is addressable online checkout/subscription volume → ~$1.75B. Applying 5–25% processed share and 0.5–1.5% blended take implies ~$4.4M to ~$65.6M ARR from India alone (Zinnov/Chiratae, Zinnov share).

Assumptions:

• A1: 50% of exported SaaS revenue uses online card/local payment + subscriptions where xPay is relevant.
• A2: Blended take (subscription + transaction + value-add) ranges ~0.5%–1.5% of processed volume.
• A3: xPay’s processed share ranges ~5%–25% of addressable flows in India, rising with scale.

Who are some of their notable competitors

• Paddle: Merchant-of-Record billing platform that handles checkout, subscriptions, and global VAT/GST collection and remittance on the seller’s behalf—reducing the need for local registrations (Paddle tax & MoR).
• Stripe: Developer-first payments plus Billing and Stripe Tax; calculates tax and supports filing via integrations/partners but is not a Merchant-of-Record (Stripe Billing, Stripe Tax).
• Chargebee: Subscription and billing automation (tax profiles, invoicing, dunning, reconciliation) that typically sits on top of payment gateways rather than acting as a MoR (Chargebee tax/billing, subscription management).
• Adyen: Global processor/acquirer with one integration for cards and many local methods and multi-currency settlement; strong routing/local acquiring but not a bundled billing+tax+receivables suite for SMB SaaS (Adyen methods, global processing).
• Payoneer: Cross-border receivables and multi-currency/virtual accounts plus working capital; useful for faster access to foreign receipts but not integrated SaaS subscription billing with tax remittance (Payoneer business, local accounts).