AI powered B2B Visa Processing Company StampMyVIsa raises Rs 4 crore in Bridge Round Led by Unicorn India Ventures

• StampMyVisa has also launched premium services like SMV Insure and SMV Global for the global travelers.
• Over the next 12 – 18 months, the company will also build fintech infra with payment solutions and embedded credit to fuel India’s SMEs business growth.
• They also plan to expand their visa tech infra to GCC countries

AI powered B2B Visa processing company StampMyVisa has raised a bridge round of Rs 4 crore led by Unicorn India Ventures (UIV). UIV is an existing investor in the company and last year, it invested Rs 6.6 crore in SMV leading their seed round. The bridge round has been raised to reach critical milestones by the Company as they gear up for a larger Series A round in the next financial year.

The current capital will be used for future growth of the company, marketing and supporting the acquisition of Teleport. SMV had recently acquired Teleport to expand its operations in South India. The Company has achieved a 4X growth in its revenues. The visa processing capabilities have been further enhanced by using AI backed proprietary software Nucleus, built by SMV inhouse, that has resulted in a success rate of 99.5% with 75,000+ visas processed in the last 6 months alone

Commenting on the fund raise, Rahul Borude, Co-founder CEO, StampMyVisa, says, “India’s economic growth is driving outbound travel for work, studies and pleasure. While there is a tech disruption taking place in every aspect of foreign travel, visa processing still remains a highly manual process. We see this as a last mile gap to be addressed. With the help of AI, visa documentation can be virtually made error-free, thus bringing down the chances of rejection considerably. Our platform enables travel agents, corporates, OTAs and MICE to process visas for over 80 countries. As we continue to improve our offerings, we are also going to enter GCC countries.” 

StampMyVisa has also launched premium offerings for travelers to provide more comfort while traveling to foreign destinations. This includes, SMV Insure: Trip Protection Insurance where If Visa gets rejected, SMV would refund the booking value to the traveller. SMV Global: Global Internet connectivity via SMV's proprietary eSim Product that enables travellers to enjoy affordable & uninterrupted connectivity, which is 40% cheaper than regular International roaming offered by telecom providers.

Anil Joshi, Managing Partner, Unicorn India Ventures, says, “We invested in SMV last year and have seen Rahul and his team building a truly global product which is made in India. Visa processing is a highly stressful process and over 35% rejections are due to human error, the paper work, timelines and dependencies on manual processes has many a times played spoilsport in the travel planning of many professionals, students and even leisure travellers. SMV understands this problem and with an intelligent use of AI is streamlining the entire process. Seeing them hit one milestone after the other, we decided to continue our investment round in the company as we gear up for an accelerated growth trajectory and a larger round on the horizon.”

SMV’s key driver in future growth is going to be its enhanced capabilities in processing ~80% of visas within 5 minutes of receiving applications. This beats the current industry standard of 2 days. Tech automation with the deep integration of AI will enable SMV to provide users with a tentative % probability of their visa getting approved. This comes in handy for European and US visas. The company currently serves 80+ countries each month and will keep on serving them with increased efficiency in the order processing leading to shorter processing times.

About Unicorn India Ventures

Started in 2016 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures is a technology focused early-stage venture fund that invests in emerging and visionary startups. Unicorn India Ventures launched its first fund with a corpus of Rs 100 crore and invested in 17 companies like SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, FutureCure to mention some. The Fund has emerged as the best performing early-stage fund in India with the stellar exits provided by the fund to its LPs.

Fund II is a Rs 300 Cr fund launched in 2020 that has invested in 20 companies so far like Gamerji, Probus, Daalchini, Windo, HiWi. Most of the portfolio is scaling up fast and has had several uprounds.

Unicorn India Ventures is closing its Rs 1000 Cr Fund III.

With this Fund, UIV aims to build a portfolio of 20 startups that are focused mostly in the deep tech sector that includes semiconductor, space tech, and medical diagnostics apart from SaaS and India digital platforms. Unicorn has already made 16 investments from this fund and includes companies like Netrasami, Qubehealth, Orbitaid, Aurassure , PELocal, Kluisz amongst others.

About StampMyVIsa

StampMyVisa is a revolutionary AI-powered platform that simplifies the complex visa application process for businesses.

Specialising in B2B travel, the platform helps corporates, travel agents, MICE companies, and OTAs streamline and automate visa processing, ensuring faster approvals, reduced errors, and enhanced global compliance. With its scalable and user-friendly technology, StampMyVisa is positioned to transform how businesses manage international travel documentation, empowering them to scale globally with ease