Visa processing startup Atlys has raised $36 million in funding led by Susquehanna Asia VC, with participation from existing investors Elevation Capital, Long Journey Ventures and Peak XV Partners. Travel platform MakeMyTrip also joined the round as a new investor.
The startup plans to use the capital to expand into new international markets and accelerate its AI offerings, including automating document verification, eligibility assessment, and traveller support across the visa lifecycle.
“Atlys is on a 700,000 annual visa run rate, and as rising incomes drive a surge in global travel and cross-border experiences, the scale of the opportunity ahead is significant,” founder and chief executive Mohak Nahta said. “Our mission is simple: remove the barriers that prevent people from exploring the world.”
Founded in 2021 by Nahta, a former Pinterest engineer, Atlys streamlines visa processing for travellers, and claims to cut visa processing times for destinations across the globe while also reducing rejection rates.
So far, the company has raised over $71 million.
Since its last funding round in November 2024, the company said it has processed nearly 450,000 visas and recorded 11X growth.
Atlys has expanded beyond India into international markets including the UAE, the US, the UK, and Australia, which now comprise nearly half of its business.
Commenting on the funding, Sai Araveti, investment advisor to Susquehanna Asia VC, said, “Atlys is digitising a workflow that has historically been manual and opaque. Over time, the data layer the company is building around traveller identity and eligibility could become foundational infrastructure for global mobility.”
In FY25, the startup has logged Rs 31.84 crore in revenues, up from Rs 9.61 crore in FY24, according to filings with the Registrar of Companies. Its net loss stood at Rs 60.08 crore in FY25, up 2.5 times from Rs 23.41 crore a year ago.
In the visa processing space, Atlys competes with the likes of VisaHQ and Akbar Travels.
The startup plans to use the capital to expand into new international markets and accelerate its AI offerings, including automating document verification, eligibility assessment, and traveller support across the visa lifecycle.
“Atlys is on a 700,000 annual visa run rate, and as rising incomes drive a surge in global travel and cross-border experiences, the scale of the opportunity ahead is significant,” founder and chief executive Mohak Nahta said. “Our mission is simple: remove the barriers that prevent people from exploring the world.”
Founded in 2021 by Nahta, a former Pinterest engineer, Atlys streamlines visa processing for travellers, and claims to cut visa processing times for destinations across the globe while also reducing rejection rates.
So far, the company has raised over $71 million.
Since its last funding round in November 2024, the company said it has processed nearly 450,000 visas and recorded 11X growth.
Atlys has expanded beyond India into international markets including the UAE, the US, the UK, and Australia, which now comprise nearly half of its business.
Commenting on the funding, Sai Araveti, investment advisor to Susquehanna Asia VC, said, “Atlys is digitising a workflow that has historically been manual and opaque. Over time, the data layer the company is building around traveller identity and eligibility could become foundational infrastructure for global mobility.”
In FY25, the startup has logged Rs 31.84 crore in revenues, up from Rs 9.61 crore in FY24, according to filings with the Registrar of Companies. Its net loss stood at Rs 60.08 crore in FY25, up 2.5 times from Rs 23.41 crore a year ago.
In the visa processing space, Atlys competes with the likes of VisaHQ and Akbar Travels.