New Delhi: A B2B startup founded by Rahul Borude has raised Rs.6.6 crore in funding from Unicorn India Ventures. StampMyVisa is an AI-driven visa platform that simplifies complex visa application processes for businesses. It supports corporations, travel agents, meetings, incentives, conferences, Exhibition companies, and online travel aggregators by streamlining and automating visa processing and reducing errors.
The new funding will support the Mumbai-based company’s geographical expansion, advancements of its artificial intelligence (AI) capabilities, and launch of other services designed to help businesses manage international travel and visa processes for Indian Traveling aboard. The proceed would also be employed to introduce a new offering such as an insurance product to provide visa fee refunds in case of rejections and travel eSIMs on the platform. In its first year, StampMyVisa claims to have achieved seven-fold growth and is on track to reach one million visas annually within the next 12 to 18 months.
Recently, StampMyVisa’s larger competitor, Atlys raised $20 million in a series B funding round led by existing investors Peak XV Partners and Elevation Capital indicating the rising interest in visa services among tech and fintech startups aiming for global expansion and access to Boarder talent pool. New investors, including Headline which has backed companies like Mistral AI, Bumble, and GoPuff, also participated in that round.
The travel sector is on the cusp of a major shift, we’re seeing a rapidly growing middle class in India with an increasing appetite for global expansion, and AI will revolutionize the way Indians manage visas while helping businesses scale effortlessly and empowering by Indian travel agent and their Machines, incentives, Conferences, and Exhibitions millions of new travelers to explore the world said by the Borude, co-founder and CEO of StampMyVisa.
