Atlys Seeks $15-18 Million in Series B Funding to Boost Visa Processing Platform

Travel technology company Atlys is engaged in discussions with current investor Peak XV Partners and other potential backers to secure $15-18 million in its Series B funding round. This strategic funding initiative aims to solidify Atlys’ position as a leader in the visa processing industry. The company is targeting a valuation of nearly $70 million, with finalization of the round expected within the next two months.

Strong Backing Sets the Stage

Atlys boasts a prestigious investor portfolio that includes Andreessen Horowitz, Elevation Capital, and South Park Commons. In its previous Series A funding round held last September, the company raised $12 million, co-led by Elevation Capital and Peak XV Partners. These funds were used to strengthen Atlys’ technological infrastructure, expand its product offerings, and recruit new talent.

Founded by a Visionary, Processing Millions

Since its inception in 2020 by former Pinterest engineer Mohak Nahta, Atlys has processed over 500,000 visas and facilitated e-visa applications for citizens of over 100 countries. The company has carved a niche for itself by prioritizing timely visa delivery for applicants.

Streamlining the Process for Users

Atlys leverages advanced technology to provide users with precise visa arrival timelines, enhancing transparency and efficiency throughout the application process. Users can complete visa applications in under three minutes, a significant improvement over traditional methods. Recently, Atlys introduced a refund feature to provide financial security in the event of visa rejection, further demonstrating their commitment to user satisfaction.

A Competitive Landscape

Atlys operates in both the business-to-business (B2B) and business-to-consumer (B2C) segments, competing with established players like VisaHQ, iVisa.com, Gurugram-based Visa2Fly, and Mumbai-based StampThePassport. However, Atlys’ innovative approach, robust technology, and focus on user experience position it as a strong contender in the evolving visa processing industry. The company currently covers over 150 destinations and processes around 30,000 visa applications per month, with India contributing a significant portion of this volume.