Visa application startup Atlys today said it has raised $12 million in a Series A funding round led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital.
The round also saw participation from existing investors Andreessen Horowitz (a16z), Musical Duo Chainsmokers, South Park Commons, Pinterest Founders and other investors.
What is the purpose of fundraising?
Atlys said it will use the raised capital to expand its product offerings for travellers, attract customers, and further strengthen the team through talent acquisition. Prior to this, Atlys had raised $5 million in a seed round in 2021.
The world is rapidly moving towards e-visas. Over 60% of countries have already adopted e-visas, and more have announced their plans to move to e-visas in the near future. Atlys said it enables travellers to easily apply for visas through the digital platform from anywhere in the world and get their visas on time.
What does Atlys do?
Mohak Nahta founded Atlys as he found the visa process tedious, uncertain and not traveller-friendly. He realised that the solution had to be digital and set out to build an app, which led to the launch of Atlys.
“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 Mohak Nahta, founder of Atlys.
“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,” Mohak said.
The startup said it aims to eliminate uncertainty, lengthy documentation and high visa fees by providing a simplified solution for visa applications.
The traveller-centric solution provides a visa guarantee within a promised window through its app and website. It has also partnered with governments to facilitate visas and help them reduce overstays.
Why Peak XV Partners invested in Atlys?
“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 travellers and Atlys is building a next-gen platform to transform visa applications for travellers globally and reimagine international travel. We’re very excited to join Mohak and team on their mission to enable travellers across the globe to travel with more freedom,” said Shraeyansh Thakur, Principal, Peak XV.
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