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Exclusive: Peak XV in talks to lead new round in visa startup Atlys

EntrackrEntrackr ยท 1y ago
Exclusive: Peak XV in talks to lead new round in visa startup Atlys
Medial

Online visa application platform Atlys is in talks to raise a new round to the tune of $15-18 million, sources aware of the development told Entrackr. The Mumbai and San Francisco-based firm is raising its Series B round within a year of Series A fundraise. โ€œAtlys has initiated talks with existing backer Peak XV and others to raise Series B round. The talks are early and may take a couple of months to materialize,โ€ said a source who requested anonymity. In September last year, Atlys scooped up $12 million in a Series A round led by Elevation Capital and Peak XV Partners with participation from existing investors Andreessen Horowitz (a16z), Musical Duo Chainsmokers, South Park Commons, Pinterest Founders and other investors. To date, it has raised over $17 million. โ€œThe round will be led by Peak XV and value Atlys anywhere at around $70 million or even more,โ€ said another source. Launched in 2021, Atlys makes visa process visa-related processes easier in a quick time. It has built a tech which aims to reduce visa rejection rates. The platform covers more than 150 destinations and with an average time of just over 4-10 minutes spent to apply for a visa. As per sources, Atlys facilitates around 30,000 visa applications per month and India contributes more than 60% (20,000) visa applications. Earlier this year, the firm launched a new refund feature aimed at providing financial security to its users if their visa gets rejected. In a response to Entrackrโ€™s queries, Atlys founder and CEO Mohak Nahta said, โ€œWe would like to clarify that we are currently not engaging in any fundraising activities, and reports or rumours indicating otherwise are inaccurate.โ€ Queries sent to Peak XV did not elicit any response. Atlys competes with Gurugram-based Visa2Fly and Mumbai-based StampThePassport. While Visa2Fly raised $414K in its pre-seed round from ODX (On Deck), MarsShot VC (Razorpay Founders) and others in July 2022, StampThePassport raised $500K in September last year.

StampMyVisa raises Rs 4 Cr in bridge round led by Unicorn India Ventures

EntrackrEntrackr ยท 4m ago
StampMyVisa raises Rs 4 Cr in bridge round led by Unicorn India Ventures
Medial

Snippets StampMyVisa raises Rs 4 Cr in bridge round led by Unicorn India Ventures B2B visa processing platform StampMyVisa (SMV) has raised Rs 4 crore in a bridge round led by existing investor Unicorn India Ventures (UIV). The fresh capital will be used for growth, marketing and to support the companyโ€™s recent acquisition of Kunal Shah backed Teleport, which expands its operations in South India. Unicorn India Ventures had earlier invested Rs 6.6 crore in StampMyVisa during its seed round last year. The company aims to use this bridge round to achieve key milestones before raising a larger Series A round in the next financial year. StampMyVisa said it has achieved 4 times growth in revenue while maintaining a 99.5% visa success rate, processing more than 75,000 visas in the past six months. Its proprietary AI engine Nucleus automates and validates visa documentation for over 80 countries. The company recently introduced new products including SMV Insure, which refunds the booking value if a visa is rejected, and SMV Global, an eSIM service offering international connectivity at lower cost than regular roaming. It plans to expand into GCC markets and build fintech infrastructure with embedded credit and payment solutions for small and medium businesses. The platform targets to process 80% of visa applications within five minutes, compared to the current industry average of two days. In August 2025, StampMyVisa acquired travel tech startup Teleport, a consumer facing player backed by founders including Kunal Shah, Vidit Aatrey and Phanindra Sama. It competes with Atlys, Visa2Fly and StampThePassport.

Visa processing startup Atlys raises $20 Mn led by Peak XV and Elevation

EntrackrEntrackr ยท 1y ago
Visa processing startup Atlys raises $20 Mn led by Peak XV and Elevation
Medial

Visa processing platform Atlys has raised $20 million in its Series B funding round, co-led by Peak XV Partners and Elevation Capital. The round saw participation from existing investors, alongside new investors such as DST Global and Headline. The fresh capital will fuel Atlysโ€™ expansion plans as well as enhance product and engineering capabilities, enter new markets, and scale operations globally, the company said in a press release. In May, Entrackr exclusively reported about the upcoming funding at Atlys. Previously, it raised $12 million in a Series A round in September 2023 and $4.25 million in seed funding in October 2021. The three-year-old startup aims to make visa-related processes easier. Its tech, the company claims, can reduce visa rejection rates, and streamline processing times to as quick as 55 seconds. The platform covers more than 150 destinations and with an average time of just over 4-10 minutes spent to apply for a visa. Atlys has expanded its footprints in key global markets, including the US, UAE, and the UK. It has also bolstered its leadership across product, engineering, and marketing departments. As per sources, Atlys facilitates around 30,000 visa applications per month and India contributes more than 60% (20,000) visa applications. While Atlys did not disclose its revenue and other metrics, it claims to have grown 20x over the past year. Atlysโ€™ competitor Visa2Fly raised $414K in its pre-seed round in July 2022 whereas StampThePassport raised $500K in September last year. As per a report by UNWTO, India saw 30 million travellers venturing abroad in 2023, marking a 20% year-on-year increase. The report added that a significant portion of this growth came from tier II and tier III cities, which contributed to 43% of the countryโ€™s outbound travel.

Visa processing startup Atlys raises $36 Mn in Series C funding

EntrackrEntrackr ยท 16h ago
Visa processing startup Atlys raises $36 Mn in Series C funding
Medial

Visa processing startup Atlys raises $36 Mn in Series C funding Founded in 2021 by Mohak Nahta, visa processing startup Atlys allows travellers to discover, apply for and manage visas digitally across more than 120 destinations. Atlys has raised $36 million in a Series C funding round led by Susquehanna Asia Venture Capital. Existing investors Elevation Capital, Long Journey Ventures, and Peak XV Partners also participated in the round. Travel platform MakeMyTrip joined the company as a new investor. The company will use the fresh capital to expand into new international markets and advance its AI roadmap. Atlys plans to deploy AI across the visa process including document verification, eligibility checks and traveller support. Since the previous funding round, the startup has processed close to 450,000 visas and expanded its presence across several global markets such as the UAE, the US, the UK and Australia. These international markets now contribute nearly half of the companyโ€™s overall business. According to the company, it currently operates at an annual visa run rate of more than 700,000 applications. The firm has recorded 11X growth since its Series B round in 2024. The latest round follows Atlysโ€™ $20 million Series B funding in September 2024 which was co-led by Peak XV Partners and Elevation Capital with participation from DST Global Partners and Headline. Earlier, the startup secured $12 million in a Series A round in September 2023 after it raised $4.25 million in seed funding in October 2021. In February 2025, Atlys also acquired the UK unit of visa services firm Artionis in an all cash deal to expand its presence in Europe and strengthen its visa processing infrastructure. With this expansion and new funding, the company aims to build a global digital visa platform for international travellers.

Unicorn India Ventures backs B2B Visa platform StampMyVisa

EntrackrEntrackr ยท 1y ago
Unicorn India Ventures backs B2B Visa platform StampMyVisa
Medial

Business-to-business (B2B) visa platform, StampMyVisa, has secured Rs 6.6 crore in a pre-Series A funding round led by Unicorn India Ventures. The fresh funds will be used to support rapid expansion, enhance AI capabilities, and enable the company to introduce innovative services that redefine how businesses manage international travel and visa processes for Indians traveling abroad, according to a press release from StampMyVisa. Launched by Rahul Borude and Pravin Wadekar, StampMyVisa is an AI-powered platform that simplifies the complex visa application process for businesses. Specializing in B2B travel, the platform assists corporates, travel agents, MICE companies, and OTAs in streamlining and automating visa processing, ensuring faster approvals, reduced errors, and enhanced global compliance. With its scalable and user-friendly technology, StampMyVisa aims to transform how businesses manage international travel documentation, empowering them to scale globally with ease. According to market research, the global e-Visa market is projected to grow at a CAGR of 11.1%, from $1,030.5 million in 2024 to $2,395.2 million by 2032. StampMyVisa claims to have grown more than sevenfold, handling hundreds of visas daily while ensuring complete compliance with global regulations over the last 12 months. The company also plans to introduce new offerings that will enhance the customer experience, positioning it as a one-stop solution for all international travel needs, from visa processing to travel insurance and eSIMs. StampMyVisa aims to reach one million visas processed annually within the next 12โ€“18 months. Unicorn India Ventures has previously backed companies such as SmartCoin, Open Bank, Sequretek, and Pharmarack. Its current Rs 1,000 crore Fund III aims to support the next generation of innovative digital platforms.

BorderPlus raises $7 Mn led by Owl Ventures

EntrackrEntrackr ยท 1y ago
BorderPlus raises $7 Mn led by Owl Ventures
Medial

BorderPlus, a new-age cross-border workforce mobility platform, has raised Rs 60 crore ($7 million) in a funding round led by Owl Ventures, and participation from entrepreneurs including Binny Bansal, Mithun Sacheti, Ritesh Agarwal, Aakash Chaudhary, and Apoorva Patni. This marks BorderPlus' first institutional (external) funding round. The proceeds will be fuelling its mission to streamline international career opportunities for skilled Indian workers, starting with healthcare professionals and nurses. Mayank Kumar, co-founder of upGrad, and Ayush Mathur, a former senior leader at OYO, launched BorderPlus in January this year. BorderPlus provides end-to-end support, including finishing school training, language learning, visa processing, employment opportunities, cultural integration, local qualification recognition, financing, and talent leasing. The firm has already begun training its first batch of nurses, preparing them for global placements with a comprehensive approach that includes language training, visa processing, job placements, cultural integration, and financial support.

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