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Visa processing startup Atlys has launched its first employee stock ownership plan (ESOP) buyback worth Rs. 4 crore, offering partial liquidity to eligible staff. The move allows employees to monetize a portion of their equity while continuing to participate in the company’s long-term growth.
The buyout will allow employees to sell upto 25% of their vested stock options. Atlys has made this offer in a way that involves everybody working within different departments. The employees are at liberty to keep the remaining shares as well.
Founder and CEO Mohak Nahta said the initiative reflects the company’s belief in creating shared value. He noted that the buyback provides meaningful liquidity while strengthening employees’ long-term ownership.
The ESOP buyback follows Atlys’ recent $36 million Series C funding round led by Susquehanna Asia Venture Capital. Others who participated in this venture include MakeMyTrip, Elevation Capital, Long Journey Ventures, and Peak XV Partners. This investment highlights the investor's faith in the startup’s growth.
Atlys is a startup established in 2021 that provides online visa services to more than 120 countries, including the UAE, Australia, Japan, and the USA. The company processes over 700,000 visa applications annually and has entered the travel services market with eSIMs, forex, and insurance.
Regarding the financials, Atlys recorded revenue of Rs. 31.84 crore in FY25, up from Rs. 9.61 crore in FY24. In the same way, the company incurred losses of Rs. 60.08 crore, compared with Rs. 23.41 crore in the last fiscal year, indicating aggressive growth.
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ESOPs are widely used among startups to attract and retain talented people and align their performance. ESOP buybacks create opportunities for employees through liquidity events.
