Atlys, a startup focused on simplifying visa processing, has successfully raised $20 million in its Series B funding round, co-led by Peak XV Partners and Elevation Capital. This funding round attracted participation from existing investors and notable newcomers such as DST Global and Headline. The capital infusion aims to bolster Atlys’ expansion efforts, enhance product development, and scale its operations globally.
Founded just three years ago, Atlys is dedicated to transforming the often complex and time-consuming visa application process. The platform utilizes advanced technology to reduce visa rejection rates and streamline processing times, reportedly completing applications in as little as 55 seconds. Currently, Atlys covers over 150 destinations, enabling users to complete their visa applications in an average time of just 4 to 10 minutes.
The startup has already established a significant presence in key markets, including the United States, the United Arab Emirates, and the United Kingdom. Additionally, Atlys has strengthened its leadership teams across product, engineering, and marketing sectors to further drive growth.
As of now, Atlys processes approximately 30,000 visa applications monthly, with a significant portion—over 60%—coming from India, translating to around 20,000 applications. While specific revenue figures remain undisclosed, the company claims to have achieved a remarkable 20x growth over the past year.
This recent funding round follows Atlys’ previous capital raises, including $12 million in Series A funding in September 2023 and $4.25 million in seed funding in October 2021. Atlys’ competitor, Visa2Fly, raised $414,000 in its pre-seed round in July 2022, while another rival, StampThePassport, secured $500,000 in September of the same year.
According to a recent UNWTO report, India saw 30 million travelers venturing abroad in 2023, reflecting a 20% year-on-year increase. Notably, tier II and tier III cities contributed significantly to this growth, accounting for 43% of the country’s outbound travel.
With this fresh capital, Atlys is well-positioned to enhance its services, tap into new markets, and continue to simplify the visa application process for travelers worldwide.
