Visa-processing startup StampMyVisa (SMV) has raised ₹4 crore in a bridge funding round led by Unicorn India Ventures, one of its existing investors. The fresh capital comes after an earlier seed funding of ₹6.6 crore from the same venture firm.
Expansion Plans
The company plans to use the new funding to grow its operations, increase marketing efforts, and integrate the travel-tech platform Teleport, which it recently acquired. This will help improve its presence in southern India. StampMyVisa also aims to expand into Gulf Cooperation Council (GCC) countries and develop fintech solutions to support small and medium-sized enterprises in business travel, such as embedded credit and payment options.
Strong Growth and Technology
Over the past six months, StampMyVisa has reported a fourfold increase in revenue and has processed more than 75,000 visa applications. The company claims an impressive 99.5% visa success rate. Its core AI technology, called “Nucleus,” automates and streamlines visa documentation and approval. This allows about 80% of visa applications to be processed within five minutes, compared to the industry average of two days. The company currently handles visa services for over 80 countries.
Industry Impact
Visa processing is often slow and can have errors. StampMyVisa’s AI-based system makes the process faster, more accurate, and easier to use.mAs more people from India travel abroad for work, study, or holidays, the demand for quick and reliable digital visa services is rising.
By entering new markets, such as the Middle East, and introducing financial services for SMEs, StampMyVisa is positioning itself as more than just a visa-processing company—it’s evolving into a comprehensive global travel-tech and mobility platform.