The archive · Consumer Apps · Product decision · 2021–2026
Atlys bets Indians apply for visas in an app: $36M Series C, 700K+ run rate
Delhi's Atlys digitizes the visa application for Indian travellers; 2026 Series C of $36M from Susquehanna Asia VC on a 700,000+ annual run rate.
Atlys
What the business is
Atlys is a digital visa platform: travellers research requirements, prepare documents, submit applications and track approvals across 120+ destinations, with AI-assisted document verification and eligibility checks, and it earns processing fees per application.
Starting capital：$36M Series C (Mar 2026) led by Susquehanna Asia VC with Peak XV, Elevation Capital and Long Journey Ventures, plus MakeMyTrip as a new investor; earlier rounds: seed (2021, led by Andreessen Horowitz), Series A (2023) and Series B (2024), both led by Peak XV and Elevation.
How it started
Mohak Nahta founded Atlys in Delhi in 2021 after seeing how painful and opaque visa applications were for Indian travellers. It raised a seed round led by Andreessen Horowitz with South Park Commons, then a Series A in 2023 and a Series B in 2024 — both led by Peak XV Partners and Elevation Capital — as the post-pandemic travel surge took off.
What happened
Atlys grew on volume and trust: it processed ~450,000 visas between its 2024 Series B and early 2026, grew 11x over that period, and pushed into the US, UK, UAE and Australia, which now account for nearly half of its business. In March 2026 it raised a $36M Series C led by Susquehanna Asia VC, with MakeMyTrip joining as a strategic investor, to fund international expansion and an AI layer across the visa lifecycle — document verification, eligibility assessment and real-time traveller support.
How it ended up
Still scaling: as of 2026-09-02 Atlys operates at a 700,000+ annual visa run rate, has expanded beyond India into the US, UK, UAE and Australia, and is deploying the Series C on AI-driven processing and further geographic growth.
Background
Atlys, founded in Delhi in 2021 by Mohak Nahta, bet that Indian travellers would ditch travel agents and paper forms for an app that digitizes the entire visa application: research requirements, prepare documents, submit, and track approvals online. It raised a seed round led by Andreessen Horowitz in 2021, then a Series A in 2023 and a Series B in 2024, both led by Peak XV Partners and Elevation Capital, riding the post-pandemic surge in international travel.
The bet worked on volume: between its 2024 Series B and early 2026, Atlys processed ~450,000 visa applications, grew 11x over that period, and expanded into the US, UK, UAE and Australia — markets that now make up nearly half of its business. In March 2026 it raised a $36M Series C led by Susquehanna Asia VC, with existing investors Peak XV, Elevation Capital and Long Journey Ventures participating and MakeMyTrip joining as a new strategic investor.
Atlys says it is now operating at a 700,000+ annual visa run rate. The Series C is earmarked for entering more international markets and for an AI layer across the visa lifecycle — document verification, eligibility assessment and real-time traveller support. The story is not about the visa itself but about productizing the last famously offline step in travel, and about a consumer brand earning trust through approvals and transparency rather than price.
What has to be true
- It is a textbook wedge-to-platform story: start with the most hated travel step (paperwork), win trust, then expand internationally and add AI.
- The numbers are dated and attributable: $36M Series C on 2026-03-17, 700K+ annual run rate, 450K visas since the 2024 Series B, 11x growth.
- The investor set is distinctive: a16z at seed, then Sequoia successor Peak XV, then travel incumbent MakeMyTrip — showing validation crossing from VCs to the industry.
- It shows a consumer startup outside fintech/e-commerce reaching scale in India and then going global, with AI as the next expansion lever.
What can be applied
The most hated step in a process is a wedge: productizing visa paperwork and visible timelines got consumers — and later MakeMyTrip — to back Atlys; convenience beat incumbents before price did.
Aftermath
As of 2026-09-02, Atlys operates at a 700,000+ annual visa run rate and is executing the Series C plan: entering new international markets and embedding AI across the visa lifecycle — document verification, eligibility assessment and real-time traveller support. Its key markets are the US, UK, UAE and Australia, which account for nearly half of business, and MakeMyTrip's participation ties it into the mainstream travel ecosystem.
Sources
- Atlys raises $36 million in Series C round led by Susquehanna Asia VC
- Atlys secures $36Mn in Series C funding led by Susquehanna Asia VC
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