Visa processing platform Atlys has successfully raised $20 million in its Series B funding round, as per media reports. The round was co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital, with participation from existing investors and new backers including DST Global and Headline. This funding brings the total capital raised by Atlys to USD 40 million.
According to media reports, this latest investment is a significant milestone for Atlys, which has witnessed remarkable 20x growth over the past year. The platform has expanded its presence in key global markets such as the US, UAE, and the UK, while also enhancing its leadership team with strategic hires in product, engineering, and marketing.
As reported, the fresh capital will drive Atlys' expansion strategy, allowing the company to bolster its product and engineering capabilities, enter new markets, and scale operations on a global scale. The focus remains on addressing the growing needs of travellers, particularly in India, where international tourism is experiencing rapid growth.
The surge in global outbound international tourists, which reached 1.3 billion in 2023, is fueled by rising international tourism, expanding expatriate communities, and the increasing adoption of digital travel solutions.
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