Atlys Achieves Milestone with First ESOP Buyback

Visa processing platform Atlys completed its first ESOP buyback valued at Rs 4 crore, enhancing employee ownership. Founder Mohak Nahta emphasized the importance of rewarding those contributing to Atlys' success. Recently, Atlys secured a $36 million Series C funding, boosting its global expansion across key markets like the UAE, US, UK, and Australia.

Atlys, a leading visa processing platform, has announced the successful completion of its first Employee Stock Ownership Plan (ESOP) buyback valued at Rs 4 crore. This initiative allows eligible employees to liquidate up to 25% of their vested stock options, providing them with significant liquidity.

Founder and CEO Mohak Nahta highlighted the importance of this buyback as a way to reward the employees who are pivotal to Atlys' growth. He stated that it highlights the company's commitment to shared value creation and long-term employee engagement.

In recent developments, Atlys raised $36 million in a Series C funding round led by Susquehanna Asia Venture Capital and other partners, fueling its expansion into markets like the UAE, US, UK, and Australia. The company has seen substantial growth, boasting an annual visa run rate exceeding 7,00,000 and expanding its business scope significantly.

(With inputs from agencies.)