Visa processing platform Atlys has announced its first employee stock ownership plan (ESOP) buyback worth ₹4 crore, marking an important milestone in the startup’s growth journey. The move is aimed at rewarding employees by giving them an opportunity to convert a portion of their vested stock options into immediate cash while continuing to remain invested in the company’s long-term growth story.
According to the company, eligible employees have been given the option to liquidate up to 25 per cent of their vested stock options under the buyback programme. The initiative has been opened across teams and functions, ensuring that a wide section of the workforce can participate in the liquidity event. This is the first such buyback exercise undertaken by Atlys since its inception and reflects the company’s growing financial maturity.
Founder and CEO Mohak Nahta said the company has always believed that the people building Atlys should share in the value they help create. He added that the buyback gives employees meaningful liquidity today while also allowing them to deepen their long-term ownership as the company continues to expand globally.
“Atlys announces first ESOP buyback worth ₹4 crore.”~Bussiness
Buyback Comes After Fresh Funding Momentum:
The ESOP buyback announcement comes shortly after Atlys raised $36 million in a Series C funding round led by Susquehanna Asia Venture Capital. Existing investors including Elevation Capital, Peak XV Partners, Long Journey Ventures, and MakeMyTrip also participated in the round. The fresh capital has strengthened investor confidence in the company’s expansion plans and has likely provided the financial flexibility required for the buyback.
The startup, founded by Mohak Nahta, has rapidly emerged as a major player in the travel-tech and visa processing space. Atlys currently operates a digital visa application platform that supports more than 120 destinations and simplifies visa approvals for international travellers.
Reports indicate that the company is currently running at an annual visa processing rate of more than 7,00,000 applications and has recorded 11x growth since 2024, reflecting strong demand for its services in the international travel market.
“Visa processing platform Atlys has bought back ESOPs worth ₹4 Cr in its first such exercise.”~Inc42
Global Expansion Drives Growth Story:
Atlys has also significantly expanded its presence beyond India, with markets such as the UAE, US, UK, and Australia now accounting for nearly half of its business. This global diversification has become one of the key drivers of the startup’s rapid scale-up in the last two years.
Industry experts view ESOP buybacks as a strong signal of a startup’s health, as they provide early employees with real financial rewards while also helping improve retention and morale. In India’s startup ecosystem, such buybacks are increasingly being used to reward long-term contributors and showcase financial stability to both talent and investors.
“Atlys announces ₹4 crore ESOP buyback for employees.”~Economic Times Startups
Positive Signal for Employees and Investors:
The ₹4 crore ESOP buyback is being seen as a positive step for both employees and the wider startup ecosystem. For employees, it converts stock ownership into tangible financial gains, while for investors it signals strong confidence in Atlys’ future growth trajectory.
As the company continues to scale across global markets and process a growing number of visa applications, the buyback highlights Atlys’ commitment to building a culture of shared ownership and long-term value creation.
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