Visa Processing Platform Atlys Secures USD 20 Mn in Series B Round Led by Peak XV Partners and Elevation Capital With the fresh funds, the Delhi- and San Francisco-based firm aims to enhance its product and engineering capabilities, enter new markets, and scale its global operations.
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Visa processing platform Atlys has secured USD 20 million in a Series B funding round co-led by Peak XV Partners and Elevation Capital. The round also saw participation from existing investors, alongside new backers such as DST Global and Headline.
This fresh influx of capital will support Atlys' ambitious expansion plans, bolster its product and engineering capabilities, and accelerate its global market entry, according to the company's press release.
Founded in 2021 by Mohak Nahta, Atlys has rapidly grown to become a key player in simplifying the visa application process. Through its user-friendly platform, even first-time travelers can navigate the complexities of visa processing with confidence.
Atlys claims that its advanced technology can reduce visa rejection rates and process applications in as little as 55 seconds. The platform serves over 150 destinations, allowing users to complete visa applications in just 4–10 minutes on average.
"Atlys has seen extraordinary 20x growth over the last 12 months," said Mohak Nahta, Founder and CEO of Atlys. "This investment will enable us to continue scaling globally and ensure that travelers 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."
This latest round of funding builds on Atlys' earlier successes. In September 2023, the company raised USD 12 million in a Series A round, following a USD 4.25 million seed round in October 2021.
The additional funds will be used to further expand Atlys' presence in key markets such as the US, UAE, and UK, while enhancing its leadership across product, engineering, and marketing teams.
"Travel continues to see strong tailwinds globally, and our thesis is that visas are just the starting point. We believe Atlys can go on to become a broader travel services platform for a range of use cases for travelers globally, and we are excited to deepen the partnership with Mohak and the Atlys team on this journey," added Shraeyansh Thakur, Principal at Peak XV Partners.
Mayank Khanduja, Partner at Elevation Capital, added, "Atlys is addressing the real pain points of global travelers. This new funding is a testament to the progress they've made, and we're excited to support their journey as they scale into new markets."
