Digital visa platform Atlys has raised $12 million in a Series A round led by Elevation Capital and Peak XV Partners (formerly Sequoia Capital India).
The round also saw participation from existing investors Andreessen Horowitz (a16z), musical duo Chainsmokers, South Park Commons, Pinterest founders, and other investors.
The funds will be channeled towards expanding its product offerings for travelers, enhancing customer acquisition efforts, and bolstering the team through strategic talent acquisitions. Prior to this, the company had raised $5 million in a seed round in 2021.
The platform’s primary objective is to streamline the visa application process by eliminating uncertainty, reducing lengthy documentation requirements, and lowering visa fees. To date, it has processed over 2,50,000 visas.
Their traveller-centric approach ensures a visa guarantee within a specified timeframe through their user-friendly app and website, it said in a release. Moreover, it claims a 99.2 per cent on-time visa delivery rate and has also established partnerships with governments to facilitate visas and reduce overstays.
“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, and we have built the tech to make that happen,” said Mohak Nahta, Founder of Atlys. It claims to help Indians get visas on time to over 100 countries and has reduced the time for applying for a visa to under three minutes.
According to the company, more than 60 per cent of countries have already adopted e-visa systems, and many more are planning to do so in the near future. Atlys positions itself at the forefront of this transition, by offering travelers to apply for visas digitally from anywhere in the world and receive them promptly.
“We’re excited to join the company on its mission to transform the visa application process and solve larger travel-related pain points in India. 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,” said Mayank Khanduja, Partner, Elevation Capital.
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, said Shraeyansh Thakur, Principal, Peak XV. “We’re very excited to join Mohak and his team on their mission to enable travellers across the globe to travel with more freedom.”
In addition to visas, Atlys’ goal is to solve numerous other pain points that people face with international travel. This includes areas such as credit for travel, remittance, and travel insurance.