Atlys raises $12m in Series A round to revolutionize visa applications
Atlys, a digital platform specializing in visa applications, has garnered $12 million in a Series A funding round. The investment was spearheaded by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital, and also included contributions from existing investors such as Andreessen Horowitz (a16z), Chainsmokers, South Park Commons, Pinterest founders, and more.
Expanding Horizons: Use of Funding and Previous Capital
The freshly acquired funds are earmarked for broadening the platform’s services aimed at travelers, attracting more customers, and hiring new talents to strengthen the team. Previously, Atlys raised a $5 million seed round in 2021.
The E-Visa Trend: Why Atlys is a Game Changer
With over 60% of countries transitioning to e-visas and more planning to do so, Atlys is positioning itself as a key player in this transformation. The platform provides an efficient way for travelers to apply for visas digitally, promising timely delivery.
The Man Behind the Mission: Founder’s Vision for Atlys
Founder Mohak Nahta, an avid traveler, established Atlys to counter the cumbersome, uncertain, and unfriendly visa process. “Our USP is to transform a process riddled with anxiety into one with certainty. By leveraging over a million data points, we’re able to predict when you’re going to get a visa, reduce visa rejection rates, and we have built the tech to make that happen,” said Nahta. He further stated, “We believe every Indian should have the opportunity to travel anywhere without the burden of complex visa processes. Atlys can help Indians get visas on time to over 100 countries and has reduced the time for applying for a visa to under three minutes.”
Beyond Visas: Future Plans and Strategic Partnerships
Atlys aims to alleviate the stress of documentation and visa fees by offering a streamlined visa application process. A staggering 99.2% of visas are delivered on time through its digital interface. Additionally, the startup has forged partnerships with governments to streamline visas and manage overstays. “Travel is a fast-growing category in India that is seeing strong tailwinds post-Covid. Over 10 million new passports are being issued in India every year, adding materially to the base of travel aspirants from India.
Visa is a critical pain point for travelers and Atlys is building a next-gen platform to transform visa applications for travelers globally and reimagine international travel. We’re very excited to join Mohak and team on their mission to enable travelers across the globe to travel with more freedom,” said Shraeyansh Thakur, Principal, Peak XV.
The platform is not just limiting itself to visas but aims to tackle other challenges related to international travel, such as travel credit, remittance, and travel insurance.