Milestone · Professional & Local Services

Atlys announces first ESOP buyback worth Rs 4 crore

By Startup Enthusiast · 8 April 2026

What they do

Atlys runs a digital platform for visa applications across over 120 destinations

The company announced its first ESOP buyback of Rs 4 crore, letting eligible employees sell up to 25% of vested options

This follows a $36 million Series C led by Susquehanna Asia VC in March 2026

Atlys announced its first ESOP buyback worth Rs 4 crore.
Eligible employees could sell up to 25% of their vested stock options.
The buyback was open across all teams and roles.
The company also introduced an option for employees to increase long-term ownership.
This move follows a $36 million Series C round led by Susquehanna Asia VC in March 2026.

The buyback signals financial confidence and a way to reward employees.
It comes after a $36 million Series C round, showing the company has cash to spare.
Atlys' rapid growth, with visa run rate up 11 times since 2024, supports this liquidity event.

Atlys operates a digital platform for visa applications across more than 120 destinations.
It offers additional travel products including eSIMs, foreign exchange, and insurance.
The company operates in markets including the UAE, US, UK, and Australia.
Nearly half of its revenues come from non-India markets.
Atlys' annual visa run rate exceeds 700,000 applications.
In FY25, revenue was Rs 31.84 crore, up from Rs 9.61 crore in FY24.
Net loss in FY25 was Rs 60.08 crore, up from Rs 23.41 crore in FY24.

Product: Digital platform facilitating visa applications, eSIMs, forex, and travel insurance for multiple international destinations
Customers: Individual travellers seeking simplified visa application and travel services across multiple countries
How it makes money: B2C SaaS platform providing visa processing services with embedded financial services (forex, travel insurance)
What sets it apart: Ensures on-time visa delivery with AI-assisted document verification, eligibility checks, and traveller support