Visa Processing Startup Atlys Buys Back ESOPs Worth ₹4 Cr
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Visa processing platform Atyls has bought back ESOPs (employee stock ownership plan) worth ₹4 Cr in its first such exercise.
In a statement, the startup said it provided the eligible employees the option to liquidate up to 25% of their vested options.
“This buyback is an important milestone… it gives eligible employees meaningful liquidity today, while also giving them the opportunity to deepen their long-term ownership in the company as we continue to scale globally,” Atlys founder and CEO Mohak Nahta said.
The ESOP buyback was likely carried out along with the startup’s Series C funding round. The announcement comes weeks after Atlys raised $36 Mn (₹331.8 Cr) in a round led by Susquehanna Asia VC, with participation from MakeMyTrip and existing investors Elevation Capital, Long Journey Ventures, and Peak XV Partners.
Founded by Nahta in 2020, Atlys is an online visa platform that claims to ensure on-time delivery of visas. It facilitates e-visa applications for more than 120 countries from India, including destinations like the UAE, Australia, Japan, Malaysia, Argentina, Russia, and Sri Lanka.
Atlys claimed that it is currently on a 7 Lakh+ annual visa run rate and has grown 11X since 2024. Besides visa service, Atlys also offers other global travel solutions, including eSIMs, forex, and travel insurance.
The startup has raised over $73 Mn since its inception from investors like South Park Commons, Andreessen Horowitz (a16z), DST Global, Headline, among others.
Startups often offer ESOPs to attract and retain talent while aligning employees with long-term success. As investor interest in the Indian startup ecosystem grows, business expansion and rising valuations are driving an appreciation in ESOP value.
Last year, 12 Indian startups conducted ESOP buybacks, helping more than 9,200 employees unlock wealth worth over ₹1,409 Cr ($158 Mn), according to Inc42 data.
In 2026 so far, edtech startups Unacademy and Emveristy, SaaS unicorn BrowserStack, and crypto startup CoinDCX have announced ESOP buybacks.
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