Atlys secures $20 million Series B funding co-led by Peal XV, Elevation Capital

Visa processing platform Atlys has secured $20 million Series B funding co-led by existing investors Peak XV Partners and Elevation Capital, along with participation from others including Internet investment firm DST Global and venture capital firm Headline.

Atlys, in a statement, said this funding will be used for an aggressive expansion strategy, empowering the company to enhance its product and engineering capabilities, enter new markets, and scale operations globally. A core focus remains on meeting the growing needs of travellers, particularly in India, where international tourism is booming.

Atlys claims to have expanded across the globe, including the US, UAE, and the UK, while strengthening its leadership team with top-tier hires in product, engineering, and marketing.

Commenting on the funding, Atlys’ founder and CEO Mohak Nahta said, “Atlys has seen extraordinary 20x growth over the last 12 months. This investment will enable us to continue scaling globally and ensure that travellers can obtain their visas on time, every time. As India’s outbound tourism surges, the need for a seamless, on-time visa process is more critical than ever. We are one step closer to a world where borders no longer restrict exploration."

According to Atlys, in India, 30 million travellers ventured abroad, marking a 20% year-on-year increase, largely propelled by a growing middle class and greater access to affordable travel options. A significant portion of this growth came from Tier II and Tier III cities, which contributed to 43% of the country’s outbound travel, reflecting a broader shift beyond metro-driven demand.

On this note, Shraeyansh Thakur, Principal at Peak XV said, “Travel continues to see strong tailwinds globally and our thesis is that visas are just the starting point. We believe Atlys can go on to become a broader travel services platform for a range of use cases for travellers globally, and we are excited to deepen the partnership with Mohak and the Atlys team on this journey.”

Founded in 2021 by Mohak Nahta, Atlys simplifies visa processing and global travel. Prior to this, Atlys raised Series A funding in 2023 from Peak XV partners, Elevation Capital, a seed round led by Andreessen Horowitz (A16Z) in 2021 and a pre-seed round led by South Park Commons.