INSUBCONTINENT EXCLUSIVE:
Mohak Nahta, CEO and Founder, Atlys3 min read Last Updated : Sep 24 2024 | 6:10 AM IST
Visa processing platform Atlys today announced
that it has raised $20 million in its Series B funding round, co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation
The round saw participation from all existing investors, alongside new investors DST Global and Headline.
With this, the total funds
20x growth over the past year, the company said
The platform has expanded its footprint in key global markets, including the US, UAE, and the UK, while strengthening its leadership team
to enhance its product and engineering capabilities, enter new markets, and scale operations globally
seen extraordinary 20x growth over the last 12 months
This investment will enable us to continue scaling globally and ensure that travellers can obtain their visas on time, every time
CEO of Atlys.
In 2023, global outbound international tourists totalled 1.3 billion, fuelled by rising international tourism, expanding
expatriate communities, and the increasing adoption of digital travel solutions
With these drivers, the market is expected to grow at a compound annual growth rate (CAGR) of 10.5 per cent over the next decade.
In
India, 30 million travellers ventured abroad, marking a 20 per cent year-on-year increase, largely propelled by a growing middle class and
greater access to affordable travel options
travel, reflecting a broader shift beyond metro-driven demand.
Atlys leverages automation to streamline visa applications for over 150
It has been successful in reducing rejections and cutting processing times to as fast as 55 seconds, the company claimed.
Shraeyansh
We believe Atlys can go on to become a broader travel services platform for a range of use cases for travellers globally, and we are excited
without addressing the real pain points of global travellers
