Atlys, a digital visa services provider that is backed by venture capital firms Peak XV Partners and Elevation Capital, has entered the UK market with the all-cash acquisition of Artionis.
The company, which raised $20 million (about Rs 167 crore) in funding in September last year, didn't disclose the deal value.
However, a person familiar with the transaction said that the deal value was a little above $1 million.
Following the acquisition, Atlys will onboard Artionis’ staff in the UK. The target company has 40 employees operating across offices in London, Manchester, and Edinburgh. Atlys plans to double its UK headcount to 80 employees by the end of the year.
“Expanding to the UK represents more than just market growth; it's about creating a more equitable travel ecosystem," said Mohak Nahta, founder and CEO of Atlys.
Artionis holds exclusive rights for processing UK-to-Russia visas. The acquisition will help Atlys reduce paperwork, provide more accurate approval timelines, and cut application time to under five minutes. Atlys says it has processed over 2 million visas since 2021.
In 2024, Atlys expanded into the UAE, catering to the growing expatriate population. Beyond visa services, Atlys aims to evolve into a one-stop platform for global travel services, branching out into offerings such as e-SIMs, forex, and travel insurance. It plans to introduce curated travel plans in the near future.
The start was founded in 2021. That year, it raised $4.25 million in a seed funding round led by Andreessen Horowitz. Prior to that, it secured $1 million in a pre-seed funding round led by South Park Commons.
Atlys raised $12 million in a Series A round co-led by Elevation Capital and Peak XV Partners in September 2023. The round had seen participation from existing investors Andreessen Horowitz, musical duo Chainsmokers, and South Park Commons, among others. Peak XV and Elevation co-led its Series B round last year. This round also saw participation from DST Global, AH Capital, South Park Commons, Endeavor, and Mantis Capital.
EY was the advisor on the latest transaction.
