Visa Processing Platform Atlys Stakes Its Claim with $20 Million Series B Funding
Atlys, a startup specializing in simplifying visa-related processes, has secured a major boost of $20 million in its Series B funding round. The investment, led by Peak XV Partners and Elevation Capital, will fuel the company’s expansion plans, enhance its product and engineering capabilities, and scale its operations globally.
This latest funding round marks a significant milestone for Atlys, which aims to revolutionize the way people apply for visas. The company’s platform reduces visa rejection rates and allows users to receive a decision in as little as 55 seconds.
Global Expansion and Rapid Growth
Atlys has already made significant strides in expanding its presence in key global markets, including the US, UAE, and UK. The company has also strengthened its leadership team across product, engineering, and marketing departments.
With the help of the fresh funding, Atlys is expected to further enhance its capabilities and scale its operations globally. The company’s expansion plans will take it to new markets and help it to reach a wider audience.
Domestic Market Growth
Atlys has a strong presence in India, which contributes more than 60% of its visa applications, with over 20,000 applications processed every month. The company’s domestic market growth has been remarkable, with a 20x increase in the past year.
Competitive Landscape
The visa processing space is heating up, with several startups vying for market share. Atlys’ competitors, such as Visa2Fly and StampThePassport, have also raised funds in recent months.
Outlook
With the visa market expected to see significant growth, driven by increasing outbound travel, Atlys is well-positioned to capitalize on the trend. The company’s innovative technology and expanding global presence make it an attractive player in the market.
The fresh funding takes Atlys’ total raised to date to over $36.25 million, with a clear path to becoming a dominant player in the visa processing space.
