Visa Application Platform Atlys Secures Series A Funding, To Expand Product Offerings for Travellers
Atlys, a visa application platform that streamlines the visa acquisition process, has raised $12 million (Rs 99.6 crore) in a Series A round of funding.
As per the startup, the freshly raised funds will be used to expand product offerings for travellers. The startup also plans to use the funds to hire talent and expand its customer base.
Co-led by Elevation Capital and Peak XV Partners (formerly Sequoia Capital India), the funding round also saw participation from existing investors South Park Commons, Andreessen Horowitz (a16z), and Musical duo Chainsmokers, and other investors.
Atlys | Digital Visa Application Platform
Founded by Mohak Nahta in 2021, Atlys is a digital visa application platform that allows people to apply for and get visas on time from anywhere in the world.
Streamlining the visa acquisition process, Atlys aims to eliminate uncertainty, lengthy documentation, and high visa fees by providing a simplified solution for visa applications through its platform. It also aims to address several customer pain points like credit for travel, remittance, and travel insurance.
As per Nahta, India is the second largest visa market in the world, highlighting that the nation is growing faster than China, the biggest visa market. He added that the number of direct flights from India to many countries is increasing.
“All these factors are tailwinds to grow in India. So, while we started in the US and have customers from 100 countries, the focus right now is to build a playbook and penetrate in India and then replicate across markets globally.”
As per Nahta, the startup’s USP is to transform a process riddled with anxiety into one with certainty. By leveraging over a million data points, the visa application platform can predict when the visa applicant is going to get a visa and reduce visa rejection rates, claims Nahta.
Commenting on the development, Mayank Khanduja, partner at Elevation Capital, said,
“Our partnership with Mohak represents a significant step towards Atlys’ efforts to streamline global mobility. Their strategy to offer a new-age visa service that’s economical, risk-free, and data-driven will encourage quicker adoption of newer, more efficient procedures.”
A few years back, in 2021, the digital visa application platform raised $5 million in a seed funding round led by Andreessen Horowitz. And including this funding round, the startup, so far, has raised $17.25 million in funding.
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