Atlys gets $20m in Series B funding to spread wings

• UAE has emerged as Atlys’s second-largest market, driven by a substantial expatriate presence facing intricate visa regulations, thereby positioning Atlys to deliver timely and hassle-free services.

Dubai-based Atlys, a visa processing platform, has successfully secured $20 million in its Series B funding round, co-led by Peak XV Partners and Elevation Capital.

The funding round witnessed robust participation from existing investors while also welcomed new stakeholders, including DST Global and Headline.

The financial boost is a significant milestone for Atlys, underscoring its rapid growth trajectory, which has culminated in an astonishing 20-fold expansion over the past year.

The influx of capital will bolster Atlys’ aggressive global expansion strategy, enabling the company to enhance its product and engineering capabilities, penetrate new markets, and scale its operations on an international level.

Of particular importance is Atlys’ focus on catering to the burgeoning needs of travelers in India and the UAE—regions experiencing a notable surge in international tourism.

Seamless visa processing

The UAE has emerged as Atlys’s second-largest market, driven by a substantial expatriate presence facing intricate visa regulations, thereby positioning Atlys to deliver timely and hassle-free services.

Establishing an office in western Dubai reflects Atlys’ commitment to supporting its expanding customer base, which now spans over 100 countries.

“The investment will enable us to continue scaling globally and ensure that travelers can obtain their visas on time, every time,” Mohak Nahta, the Founder and CEO of Atlys, said.

His emphasis on the seamless visa processing correlates with a broader trend in international travel, where the number of outbound tourists reached 1.3 billion in 2023, as reported by the UNWTO.

Atlys employs automation to expedite visa applications for over 150 destinations, reducing processing times to as swiftly as 55 seconds while simultaneously enhancing security measures through robust data encryption.

Investors such as Shraeyansh Thakur, Principal at Peak XV, have expressed optimism regarding Atlys’s potential to evolve into a comprehensive travel services platform.

He highlighted that visas are merely the starting point for a broader suite of services that Atlys aims to provide.

Additionally, Mayank Khanduja, Partner at Elevation Capital, underscored Atlys’s innovative approach, particularly its ability to address the core pain points faced by global travelers, stating, “This new round of funding is a testament to the progress they’ve made.”