B2B Visa processing startup StampMyVisa raises Rs 4 crore in funding from Unicorn India Ventures

AI-powered B2B Visa processing startup StampMyVisa has raised a bridge round of Rs 4 crore led by an existing investor Unicorn India Ventures.

Prior to this round, the startup raised Rs 6.6 crore in November 2024, led by UIV. It is now preparing for the Series A funding round.

StampMyVisa said it will use the raised capital for growth, marketing, and supporting the acquisition of Teleport. It had recently acquired Teleport to expand its operations in South India. The startup has achieved a 4X growth in its revenues.

It also said that the visa processing capabilities have been further enhanced by using AI backed proprietary software Nucleus, built by SMV inhouse, that has resulted in a success rate of 99.5% with 75,000+ visas processed in the last 6 months alone.

“India’s economic growth is driving outbound travel for work, studies and pleasure. While there is a tech disruption taking place in every aspect of foreign travel, visa processing still remains a highly manual process. We see this as a last mile gap to be addressed. With the help of AI, visa documentation can be virtually made error-free, thus bringing down the chances of rejection considerably,” said Rahul Borude Co-founder and CEO, StampMyVisa.

“Our platform enables travel agents, corporates, OTAs and MICE to process visas for over 80 countries. As we continue to improve our offerings, we are also going to enter GCC countries,” he added.

StampMyVisa has also launched premium offerings for travelers to provide more comfort while traveling to foreign destinations. This includes, SMV Insure: Trip Protection Insurance where If Visa gets rejected, SMV would refund the booking value to the traveller. SMV Global: Global Internet connectivity via SMV's proprietary eSim Product that enables travellers to enjoy affordable & uninterrupted connectivity, which is 40% cheaper than regular International roaming offered by telecom providers.

“Visa processing is a highly stressful process and over 35% rejections are due to human error, the paper work, timelines and dependencies on manual processes has many a times played spoilsport in the travel planning of many professionals, students and even leisure travellers. SMV understands this problem and with an intelligent use of AI is streamlining the entire process. Seeing them hit one milestone after the other, we decided to continue our investment round in the company as we gear up for an accelerated growth trajectory and a larger round on the horizon,” said Anil Joshi, Managing Partner, Unicorn India Ventures.