Atlys: Revolutionizing E-Visa Processing with $20 Million Funding
Atlys: Revolutionizing E-Visa Processing with $20 Million Funding
In a world increasingly driven by digital services and globalization, the travel industry is ripe for disruption. Visa processes, long considered cumbersome and bureaucratic, are now being redefined by tech startups focused on enhancing efficiency and reducing complexities. One such company is Atlys, a digital visa processing platform founded in 2021 by Mohak Nahta, a former Pinterest engineer. Atlys recently announced a $20 million Series B funding round led by Peak XV Partners and Elevation Capital, both of which are returning investors from earlier funding rounds. With this new influx of capital, the company aims to expand globally, enhance its product offering, and continue solving the challenges surrounding visa applications.
Background of Atlys
Atlys was founded to address a key pain point in global travel: the visa application process. Traditionally, securing a visa is a time-consuming ordeal involving paperwork, embassy visits, and a lengthy approval period. For travelers, especially those flying on short notice, this process can be highly inconvenient. Recognizing this challenge, Atlys built a platform that automates visa applications, allowing travelers to apply for visas to more than 150 countries with a significantly reduced processing time.
The startup claims to process visa applications in as little as 55 seconds, a groundbreaking achievement that sets it apart from traditional visa services. The platform uses a blend of automation, advanced data encryption, and user-friendly design to make visa applications both fast and secure. Mohak Nahta, the CEO and founder, attributes much of this success to his background in engineering, having previously worked at Pinterest, where he gained firsthand experience in building scalable digital solutions.
The Series B Funding Round
The $20 million funding was co-led by Peak XV Partners (formerly known as Sequoia Capital India) and Elevation Capital. Both firms had previously invested in Atlys and continue to see the company’s long-term potential. New investors such as DST Global and Headline, known for backing successful ventures like Mistral AI, Bumble, and GoPuff, also participated in the round.
This marks a crucial stage in Atlys’ growth journey, following its earlier Series A funding round in 2023, which was also led by Peak XV and Elevation Capital. The new capital will be used to fuel Atlys’ global expansion strategy, improve product and engineering capabilities, and scale operations, particularly in new markets such as the Middle East(The Role of Investors and Market Potential
Both Peak XV Partners and Elevation Capital have a track record of investing in high-potential startups across various sectors, including technology, fintech, and travel. According to Shraeyansh Thakur, Principal at Peak XV, the travel sector is experiencing significant tailwinds, and Atlys is uniquely positioned to capitalize on this momentum. “Visas are just the starting point. We believe Atlys can become a broader travel services platform, offering solutions for various use cases for travelers globally,” Thakur said.
This outlook is shared by Mayank Khanduja, Partner at Elevation Capital, who added that while many travel-related companies focus on generating transaction revenue, Atlys has distinguished itself by addressing real pain points faced by global travelers, particularly with the bureaucratic visa process. Khanduja sees long-term potential in Atlys’ platform, especially as global tourism continues to rebound post-pandemic
Key Features of Atlys
- Automation and Speed: Atlys has automated many aspects of the visa application process, drastically reducing the time it takes to process an application. Users can complete an application in 55 seconds, compared to the days or weeks it takes using traditional methods.
- User-Friendly Interface: The platform is designed to be accessible even to less tech-savvy travelers. The process is intuitive, requiring minimal input from users to submit visa applications.
- Data Security: Visa applications involve the submission of sensitive personal data. Atlys uses advanced encryption to ensure that this data is stored securely, providing peace of mind for users.
- Global Reach: Currently, Atlys supports visa applications to over 150 destinations, with plans to expand this list as the company grows.
- Reduction in Rejection Rates: One of the most frustrating aspects of visa applications is the possibility of rejection due to errors in the application. Atlys has managed to reduce rejection rates by automating error-prone tasks, ensuring applications are submitted correctly the first time
Expansion Plans and Market Focus
Atlys’ expansion strategy will focus on both geographical growth and product development. In terms of geography, the company is setting its sights on new markets, particularly the Middle East, which is becoming a hotspot for tourism and business travel. The region’s booming travel industry presents an excellent opportunity for Atlys to tap into a large pool of travelers who require visas for international trips.
Additionally, the company plans to improve its product offerings by integrating more advanced technologies, such as artificial intelligence, to further streamline the visa application process. These improvements will allow the platform to handle a larger volume of applications and provide a more personalized experience for users
The Growing Demand for Visa Services
The visa service industry is undergoing significant changes as more startups and companies recognize the importance of offering seamless, digital solutions. With international travel on the rise, particularly in post-pandemic 2023 and 2024, the need for efficient visa services is more pressing than ever.
Several factors are driving this demand, including:
- Globalization: As companies expand internationally, the need for business travelers to obtain work visas has increased.
- Remote Work: The rise of remote work has made it easier for professionals to live and work from different countries, creating a demand for digital visa solutions that cater to this new workforce.
- Tourism: With 1.3 billion international tourists in 2023, according to the United Nations World Tourism Organization (UNWTO), there is a growing need for services that can simplify the travel process
Atlys is well-positioned to capitalize on this growing demand, with its user-friendly platform offering a solution to the cumbersome visa application process. By focusing on reducing processing times and improving the user experience, Atlys is making international travel more accessible to a broader audience.
FAQs About Atlys and Visa Processing
- What is Atlys, and what problem does it solve?
Atlys is a digital platform that simplifies the visa application process. It automates many aspects of the process, reducing the time it takes to complete an application to as little as 55 seconds. The platform is designed to make visa applications more accessible, secure, and error-free. - Who are the major investors in Atlys?
Atlys’ Series B funding round was led by Peak XV Partners and Elevation Capital, with participation from DST Global and Headline. These investors are known for backing successful tech startups and are confident in Atlys’ long-term growth potential. - How does Atlys ensure data security during the visa application process?
Atlys uses advanced data encryption to ensure that all personal information submitted during the visa application process is stored securely. This is crucial, as visa applications involve sensitive personal details. - What markets is Atlys looking to expand into next?
Atlys plans to expand its operations globally, with a specific focus on the Middle East. The region’s growing travel industry presents significant opportunities for the company to tap into a new pool of international travelers. - How does Atlys compare to traditional visa processing services?
Traditional visa applications can take days or even weeks to process and often involve extensive paperwork. Atlys streamlines this process, allowing users to complete applications in under a minute and significantly reducing the likelihood of rejection due to errors.
Conclusion
Atlys is on a mission to revolutionize the visa application process, offering a solution that is faster, more secure, and user-friendly. With its $20 million Series B funding, the company is poised for significant growth, expanding its services to new markets and improving its platform to handle the increasing demand for efficient visa solutions.
In an industry that is often bogged down by bureaucracy, Atlys stands out as a shining example of how technology can simplify even the most complex processes. As global tourism rebounds and more people seek to travel internationally, Atlys is set to play a key role in shaping the future of travel services.
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