 "Visa application startup Atlys raises $12 million in series A funding")
Online visa application platform Atlys announced on Thursday that it had raised $12 million in series A funding led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital.
Existing investors such as Andreessen Horowitz (a16z), the Musical Duo Chainsmokers, South Park Commons, Pinterest Founders, and others also participated in this round.
Atlys said it plans to allocate this capital to enhance its product offerings for travellers, expand its customer base and reinforce its team by recruiting top talent. The company had previously secured $5 million in a seed round in 2021.
“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,” said Shraeyansh Thakur, principal, Peak XV.
Mayank Khanduja, partner at Elevation Capital, added, “Our partnership with Mohak represents a significant step towards Atlys' efforts to streamline global mobility. Their strategy to offer a new-age visa service that's economical, risk-free and data-driven will encourage quicker adoption of newer, more efficient procedures."
Founded in 2021 by Mohak Nahta, Atlys allows its customers to apply for and get visas on time through its digital platform from anywhere in the world.
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“Our USP is to transform a process riddled with anxiety into one with certainty,” Nahta said. “By leveraging over a million data points, we’re able to predict when you’re going to get a visa and reduce visa rejection rates.”
Every Indian, he said, should have the opportunity to travel anywhere without the burden of complex visa processes. “Atlys,” he added, “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.”
Atlys has also partnered with governments to facilitate visas and help them reduce overstays. The startup aims to address customer pain points like credit for travel, remittance and travel insurance.