Atlys, a rapidly growing visa processing platform raises $20 million in Series B funding round co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital. The company said that with the investment, it will scale its international expansion, improve its product capabilities, and position the company well to serve the growing demand for seamless visa processing services, especially from international travelers from India. This is another landmark investment for Atlys, which has so far grown exponentially in the last year.
Focusing on India's Booming Travel Market Strategically
Atlys visa company, is focusing its expansion on the burgeoning international travel market of India, whose outbound tourism is surging at a tremendous rate. Last year saw around 30 million Indian tourists travelling abroad, which showed a year-over-year growth of 20%. A significant chunk of these tourists hails from Tier II and Tier III cities, a trend indicating growth is leaving the traditional metro-driven travel demand. The company aims to make visa applications seamless for Indian travelers, garnering quick and reliable approvals. Speaking with regards to the funding, Atlys founder and CEO Mohak Nahta said: "Atlys has seen extraordinary 20X growth over the last 12 months. 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 processis more critical than ever. We are one step closer to a world where borders no longer restrict exploration."
Advanced Automation and Innovation
Atlys applies deep automation to make visa applications for over 150 destinations within under 55 seconds. The website aids users in clarifying which visas apply to them, enables submissions of visa applications successfully, monitors progress, avoids high rejection levels, and reduces the tedious paperwork attached to filing applications.
Expansion into Major Markets Globally
Besides focusing on the Indian market, Atlys has grown its presence in other international markets including the United States, United Arab Emirates, and United Kingdom. It also made part of efforts and strengthened its leadership team through talent acquisition in areas such as product development, engineering, and marketing. So far, this growth has been further supported by a 20x increase in scale from the past year and further sets Atlys solidly in the travel tech space as a major key player.
Investors Show Confidence in Atlys
DST Global and Headline, alongside existing investors, joined the funding round. Shraeyansh Thakur, Principal at Peak XV Partners said, "We think Atlys can be more than a visa platform. It has the potential to evolve into a larger travel services platform that addresses a wide range of pain points for global travelers."
Inputs by Agencies
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