Atlys secures $36 million in Series C funding from Susquehanna Asia VC

Visa processing startup Atlys has closed a $36 million Series C funding round led by Susquehanna Asia VC.

Existing investors participating in the round include Elevation Capital, Long Journey Ventures and Peak XV Partners. travel platform MakeMyTrip has joined the company’s capital table as a new investor.

“We currently have an annual visa application rate of over 700,000, and as rising incomes drive an increase in global travel and cross-border experiences, the scale of the opportunity before us is significant,” said Mohak Nahta, founder and CEO of Atlys.

In fact, 2025 marked the second consecutive year of international travel growth, with global trips rising by 4% to nearly 1.52 billion, exceeding pre-pandemic highs, according to data from UN Tourism.

This figure reflects a return to pre-pandemic growth trends, close to the 5% average annual increase between 2009 and 2019. Africa showed the strongest growth at 8%; followed by Asia Pacific (6%), Europe (4%), Middle East (3%) and Americas (1%).

The startup plans to use the new capital to enter additional international markets. Since 2024, the company has expanded its global presence to include the UAE, US, UK and Australia; these markets now collectively account for nearly half of the company’s business. The company’s $20 million Series B round in 2024 was co-led by Peak XV and Elevation Capital at a time when tourism is experiencing a post-pandemic resurgence.

Additionally, Atlys plans to accelerate its AI roadmap to make the visa lifecycle smoother, from document verification and eligibility checks to real-time travel support.

Founded in 2021, the company completed the seed round. Andreessen Horowitz is a digital-first platform that allows travelers to discover, apply for and manage visas in more than 120 destinations.

Sai Araveti, investment advisor at Susquehanna Asia VC, said the company’s data layer sets it apart from others. “By automating applications, improving approval outcomes and bringing transparency to timelines, Atlys makes cross-border travel significantly more reliable.”

Susquehanna Asia VC is the Southeast Asia and India venture capital arm of Susquehanna International Group of Companies, a global proprietary trading and investment firm founded in the United States in 1987.

Through the group’s China and Southeast Asia corporate venture funds, the firm has invested in more than 350 companies in enterprise and consumer technology over the past 18 years.

Some of the portfolio companies include Agora, Bytedance, Kumu, Inshorts, Lentra, Mobile Premier League, Wakefit, Musical.ly, Paidy, PayMaya and RedDoorz.