Atlys, a prominent visa processing platform, has secured $20 million in its Series B funding round, co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital. This significant investment underscores Atlys’s rapid growth trajectory, with the company achieving a remarkable 20x increase in business over the past year. The platform has expanded its presence in major international markets such as the US, UAE, and the UK, while bolstering its leadership team with high-caliber hires in product, engineering, and marketing.
The newly acquired capital will drive Atlys’s ambitious expansion plans, enabling the company to enhance its product and engineering capabilities, penetrate new markets, and scale its operations globally. A key focus remains on addressing the increasing needs of travelers, particularly in India and the UAE, where international tourism is experiencing a surge. The UAE has become Atlys’s second-largest market after India. With a large expatriate population of approximately 8 million, many face complex visa procedures, making it a prime market for the company’s efficient and hassle-free services. Atlys, which serves over 100 countries from the UAE, has set up an office in western Dubai to support its expanding customer base.
“Atlys has achieved extraordinary 20x growth over the last 12 months,” stated Mohak Nahta, Founder and CEO of Atlys. “This investment will allow us to continue our global expansion and ensure that travelers can obtain their visas on time, every time. As outbound tourism grows, the demand for a seamless, on-time visa process is more crucial than ever. We are moving closer to a world where borders no longer hinder exploration.” According to a report by UNWTO, global outbound international tourists reached 1.3 billion in 2023, driven by rising international tourism, expanding expatriate communities, and the increasing use of digital travel solutions.
Atlys aims to utilize advanced automation to streamline visa applications for over 150 destinations. The company has successfully reduced rejections and shortened processing times to as little as 55 seconds. Shraeyansh Thakur, Principal at Peak XV, commented: “Travel continues to experience strong global momentum, and we believe visas are just the beginning. We think Atlys has the potential to evolve into a comprehensive travel services platform for various traveler needs worldwide, and we are thrilled to strengthen our partnership with Mohak and the Atlys team on this journey.” Mayank Khanduja, Partner at Elevation Capital, added: “Atlys is one of the most innovative products to emerge in the travel sector in recent times—a sector where many have focused on transaction revenue without addressing the genuine pain points of global travelers. We believe in their long-term vision and the value they are creating for global travelers in today’s fast-paced world. This new round of funding reflects the progress they’ve made, and we’re excited to support them as they expand into new markets and continue to redefine seamless travel.” Atlys previously raised Series A funding in 2023 from Peak XV Partners, Elevation Capital, a seed round led by Andreessen Horowitz (A16Z) in 2021, and a pre-seed round led by South Park Commons.
