Atlys, a leading visa processing platform, has raised $20 million in its latest Series B funding round, as reported by Business Standard.
The round was co-led by Peak XV Partners and Elevation Capital.
The new funds will be used to fuel Atlys’ expansion plans, enhance its product and engineering capabilities, and focus more on catering to Indian travelers.
Growing Demand for Seamless Visa Services
With India’s outbound tourism growing rapidly, Atlys is focusing on making visa processing faster and more efficient.
Mohak Nahta, CEO and founder of Atlys, emphasized the increasing need for a smooth, on-time visa process, saying, “With outbound tourism surging from India, the need for a seamless, on-time visa process is more critical than ever.”
The platform uses automation to streamline visa applications for over 150 international destinations, reducing rejection rates and processing times to just 55 seconds.
Focus on Tier 2 and 3 Cities
According to the report, around 30 million Indians traveled abroad last year, with 43% of them coming from Tier 2 and 3 cities.
As more people from smaller cities seek international travel, Atlys is positioned to meet their visa processing needs quickly and efficiently.
Enhancing Services and Exploring New Opportunities
The fresh funds will allow Atlys to:
- Expand into New Markets: With the rise in international travel from India, Atlys plans to increase its presence in more countries.
- Strengthen Technology and Engineering: The company will continue to improve its visa automation system to handle applications faster and more accurately.
- Focus on Indian Travelers: Atlys is prioritizing the needs of Indian travelers, especially those from smaller cities where demand for overseas travel is growing rapidly.
Additionally, Atlys is exploring new services like foreign exchange (forex) and travel insurance, which will complement its core visa processing services and provide travelers with more comprehensive options.
Conclusion
The latest Series B funding brings Atlys’ total raised amount to $40 million, positioning the company for continued growth in the global visa processing market.
As international travel from India continues to rise, Atlys remains focused on providing efficient, reliable visa services that cater to the needs of all travelers, particularly those from smaller cities.
