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

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

Existing investors include Elevation Capital, Long Journey Ventures, and Peak XV Partners, participated in the round. Travel platform MakeMyTrip joined the company's cap table as a new investor.

"We are currently on a 700K+ annual visa run rate, and as rising incomes drive a surge in global travel and cross-border experiences, the scale of the opportunity ahead is significant," said Mohak Nahta, founder and chief executive at Atlys.

In fact, 2025 was the second consecutive year of international travel growth, with global arrivals rising 4% and exceeding pre-pandemic highs, totalling roughly 1.52 billion, according to data from UN Tourism.

The number reflects a return to pre-pandemic growth trends, closer 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 the Americas (1%).

The startup plans to deploy the new capital to enter additional international markets. The company has expanded its global presence since 2024 to include the UAE, the US, the UK, and Australia—markets that 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 was seeing a post-pandemic resurgence.

In addition, Atlys plans to accelerate its artificial intelligence road map to make the visa lifecycle smoother—from document verification and eligibility checks to real-time traveller support.

Founded in 2021, the company raised its seed round from Andreessen Horowitz and is a digital-first platform that allows travellers to discover, apply for and manage visas across 120+ destinations.

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

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

Through the Group's Chinese and Southeast Asian corporate venture funds, the firm has invested in over 350 companies across enterprise and consumer technology over the last 18 years.

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