Atlys, an online visa facilitation platform backed by a16z, is close to finalizing a $35–40 million funding round as more travelers turn to digital platforms to plan international trips, according to people familiar with the matter. As global travel demand accelerates, the company is drawing strong investor interest amid a broader travel boom.
Moreover, Susquehanna International Group (SIG), travel technology major MakeMyTrip, and Belgian investment firm Sofina are expected to lead the funding round. Together, these investors are likely to contribute roughly $30 million of the total $35–40 million raised, sources said. In addition, Atlys’ existing investors will invest the remaining $5–10 million, with Peak XV Partners, Elevation Capital, and other current backers participating.
However, Atlys has rejected these claims and stated that it is not raising capital at this time. “We firmly deny the claims being made. The information being quoted is inaccurate and does not reflect the facts,” a company spokesperson said.
Meanwhile, the funding discussions come at a time when international travel and visa demand are rising sharply. Notably, December flight bookings have increased by 20–25 percent year-on-year, while travelers are extending the duration of their holidays. As a result, Indian consumers are preparing for one of the strongest year-end travel seasons in recent years.
Additionally, Indians have spent a record $50 billion on overseas travel over the past three years. During this period, travelers have also increased their average trip budgets by 20–30 percent, highlighting a clear shift toward higher-value international travel experiences.
During the ongoing talks, Atlys is reportedly seeking a valuation of around $200 million, according to sources familiar with the negotiations.
Founded in the US in 2021, Atlys focuses on reducing the time and complexity involved in visa applications for Indian travellers. The company aims to capitalize on the expanding travel market by streamlining documentation, lowering rejection rates, and reducing visa processing times to as little as 55 seconds across more than 150 destinations.
Previously, the company raised a $5 million seed round in 2021 from a16z and other investors. Subsequently, it secured $12 million in a round led by Peak XV Partners and Elevation Capital, with participation from Mantis VC, South Park Commons, the Pinterest founders, and others. Later, Atlys raised $20 million in a Series B round led by existing investors Peak XV Partners and Elevation Capital.
