Private Equity

PE Fund Investments

Visa processing platform Atlys raises $20-M led by Peak XV, Elevation Capital

Business Line   Atlys  

Mumbai- and San Francisco, CA (USA)-based visa processing platform Atlys has raised USD 20 million in its Series B funding round, co-led by Peak XV Partners and Elevation Capital. The round also saw participation from all existing investors, alongside new investors DST Global and Headline.The new funding will be used for the company’s expansion, enhance its product and engineering capabilities, enter new markets, and scale operations globally.Founded by Mohtak Nahta in 2020, Atlys claims to ensure on-time delivery of visas. The start-up claims to provide the applicants an exact timeline for their visa arrival. Atlys offers visa applications for over 150 destinations.

Between Mar 2023 and Sep 2023, Atlys had raised over USD 24 M from Elevation Capital, Peak XV Partners, Accel India along with angel investors.For FY23, Atlys had reported about INR 4.16 Cr in Operating Income and about INR 37.50 lakh in PAT.