Visa processing platform Atlys has secured $20 million Collection B funding co-led by current traders Peak XV Companions and Elevation Capital, together with participation from others together with Web funding agency DST International and enterprise capital agency Headline.
Atlys, in a press release, mentioned this funding will probably be used for an aggressive growth technique, empowering the corporate to reinforce its product and engineering capabilities, enter new markets, and scale operations globally. A core focus stays on assembly the rising wants of travellers, notably in India, the place worldwide tourism is booming.
Atlys claims to have expanded throughout the globe, together with the US, UAE, and the UK, whereas strengthening its management workforce with top-tier hires in product, engineering, and advertising.
Commenting on the funding, Atlys’ founder and CEO Mohak Nahta mentioned, “Atlys has seen extraordinary 20x development over the past 12 months. This funding will allow us to proceed scaling globally and be sure that travellers can receive their visas on time, each time. As India’s outbound tourism surges, the necessity for a seamless, on-time visa course of is extra crucial than ever. We’re one step nearer to a world the place borders not limit exploration.”
In accordance with Atlys, in India, 30 million travellers ventured overseas, marking a 20% year-on-year enhance, largely propelled by a rising center class and better entry to reasonably priced journey choices. A good portion of this development got here from Tier II and Tier III cities, which contributed to 43% of the nation’s outbound journey, reflecting a broader shift past metro-driven demand.
On this observe, Shraeyansh Thakur, Principal at Peak XV mentioned, “Journey continues to see sturdy tailwinds globally and our thesis is that visas are simply the place to begin. We consider Atlys can go on to develop into a broader journey companies platform for a spread of use instances for travellers globally, and we’re excited to deepen the partnership with Mohak and the Atlys workforce on this journey.”
Based in 2021 by Mohak Nahta, Atlys simplifies visa processing and international journey. Previous to this, Atlys raised Collection A funding in 2023 from Peak XV companions, Elevation Capital, a seed spherical led by Andreessen Horowitz (A16Z) in 2021 and a pre-seed spherical led by South Park Commons.