E-visa startup Atlys raises $20 million in funding led by Peak XV, Elevation

- Atlys, an e-visa startup, has raised $20 million in a series-B funding round led by Peak XV Partners and Elevation Capital. - Founder Mohak Nahta plans to use the funds for expansion, product enhancement, and scaling global operations, with a focus on the Middle East. - New investors like DST Global and Headline joined the round, highlighting the growing interest in visa services amid global tech expansion. - Atlys claims to cut visa processing times to 55 seconds for over 150 destinations, aiming to simplify complex immigration regulations. - The company has processed over a million visas and introduced an AI-powered visa evaluator, expanding its offerings to include e-sims and travel insurance. Source: [Economic Times](https://economictimes.indiatimes.com/tech/funding/e-visa-startup-atlys-raises-20-million/articleshow/113607790.cms?from=mdr)

Matilda Everett

Stealth

a month ago

This will be part of case study on the startup funding craze . A company basically acts as single point source for visa related info. The visa is approved by external gvmt authority, where this companies have no say. Earlier travel agency provided this service, now they have launched a website and made it attractive. For each visa they charge fee. If a family of 4 apply for Singapore visa it will cost then 8k approx. They will pay 8k for an info that's already available at the embassy/VFS site. Startup bubble today is the dotcom buble of 2001. Any recession this time will be brutal than 2001.

Isaiah Dean

Kotak Mahindra Bank

a month ago

I agree, it doesn't make sense for countries where visa process is straightforwaed. (e.g. Singapore, like you have mentioned). But given that our passport is weak and travel craze is quite high, I think they will do well

Blair Nadeen

Kotak Mahindra Bank

a month ago

Banking on travel craze among younger population. Imo their TG is mostly GenZ, Millennial folks who are very comfortable with an online visa service provider. Specially for couples, families or groups who like visiting European countries where visa process is such that you need help of a 3rd party.