Online visa platform Atlys in talks to raise up to $18M in funding: Report

Traveltech startup Atlys is reportedly in talks to raise $15-18 million in a Series B funding round. The discussions involve existing investor Peak XV Partners and other potential backers. 

According to Entrackr report, The startup aims to bolster its position in the visa processing industry with this strategic funding initiative. 

The target valuation for this round is nearly $70 million. These discussions are still in the early stages, and finalization is expected within the next two months.

Backing from notable investors

Atlys has already raised funding investments from notable backers, including Andreessen Horowitz, Elevation Capital, and South Park Commons.

In its previous Series A funding round, held in September last year, Atlys raised $12 million, co-led by Elevation Capital and Peak XV Partners.

The capital was used to enhance the company's technological infrastructure, diversify its product offerings, and expand its team.

Since its founding in 2020 by former Pinterest engineer Mohak Nahta, Atlys has processed over 500,000 visas and facilitated e-visa applications for over 100 countries.

Enhancing the visa application process

Atlys has emerged as a leading online visa platform by prioritizing timely visa delivery for applicants.

Leveraging advanced technology, the startup offers precise timelines for visa arrival, thereby enhancing transparency and efficiency. Users can apply for a visa in under three minutes, which is a significant improvement in speed and convenience compared to traditional methods. 

Recently, Atlys introduced a refund feature that provides financial security to users in the event of visa rejection, further underlining its commitment to user satisfaction.

What are Atlys' competitive advantages?

Operating in both the B2B and B2C segments, Atlys faces competition from industry players like VisaHQ, iVisa.com, Gurugram-based Visa2Fly, and Mumbai-based StampThePassport.

However, Atlys' innovative approach, robust technology stack, and focus on user experience position it as a formidable contender in the evolving visa processing landscape.

It covers more than 150 destinations and processes around 30,000 visa applications per month, with India contributing more than 60% of these applications.