Visa Processing Platform Atlys Raises $20 Mn To Boost Product Stack, Expand Market Footprint
by Pooja Yadav · Inc42SUMMARY
- The fresh capital will drive Atlys' expansion strategy, enabling it to improve product and engineering capabilities, enter new markets, and scale operations globally
- The company claims to have achieved 20X expansion over the past year. It has broadened its presence in key global markets, including the US, UAE, and the UK
- Atlys last raised Series A funding in 2023 from Peak XV partners, Elevation Capital, a seed round led by Andreessen Horowitz (A16Z) in 2021 and a pre-seed round led by South Park Commons
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Visa processing platform Atlys has raised $20 Mn in a Series B funding round co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital.
The round also saw participation from existing investors, as well as new investors DST Global and Headline.
The fresh capital will drive Atlys’ expansion strategy, enabling it to improve product and engineering capabilities, enter new markets, and scale operations globally.
The company claims to have achieved 20X expansion over the past year. It has broadened its presence in key global markets, including the US, UAE, and the UK, while enhancing its leadership team with top-tier hires in product, engineering, and marketing, the company said in a statement.
Mohak Nahta, founder and CEO of Atlys, said, “This investment will enable us to continue scaling globally and ensure that travellers can obtain their visas on time, every time. As India’s outbound tourism surges, the need for a seamless, on-time visa process is more critical than ever. We are one step closer to a world where borders no longer restrict exploration.”
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Shraeyansh Thakur, principal at Peak XV, added, “Travel continues to see strong tailwinds globally and our thesis is that visas are just the starting point.”
Mayank Khanduja, partner at Elevation Capital, said, “This new round of funding is a testament to the progress they’ve made, and we’re excited to support them as they scale into new markets and continue redefining what seamless travel looks like. ”
Atlys last raised Series A funding in 2023 from Peak XV partners, Elevation Capital, a seed round led by Andreessen Horowitz (A16Z) in 2021 and a pre-seed round led by South Park Commons.
Founded by former Pinterest engineer Mohtak Nahta in 2020, Atlys is an online visa platform that claims to ensure on-time delivery of visas. The startup claims to provide the applicants an exact timeline for their visa arrival.
Atlys has processed over 5 Lakh+ visas to date and facilitates e-visa applications for more than 100 countries from India, including destinations like the UAE, Australia, Japan, Malaysia, Argentina, Russia, and Sri Lanka.
The platform allows users to apply for a visa in under three minutes and recently introduced a refund feature to enhance financial security in case of visa rejection. Users can receive a refund of up to INR 8,000 if their visa application is denied, unless they are banned from entering the country.
Atlys operates in both B2B and B2C segments, competing with companies like VisaHQ and iVisa.com.