StampMyVisa Secures INR 6.6 Crore From to Transform Visa Processing for India's B2B Travel Market The global e-Visa market is projected to grow from $1,030.5 million in 2024 to $2,395.2 million by 2032, providing an ideal growth environment for StampMyVisa.
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StampMyVisa, an AI-powered visa processing platform, has raised INR 6.6 crore in a pre-Series A funding round led by Unicorn India Ventures. This strategic investment will support StampMyVisa's plans to expand its reach, enhance its AI capabilities, and introduce novel services to simplify the often complicated and error-prone visa application process for travel agencies, corporate clients, and other travel-related businesses. StampMyVisa's platform has emerged as a seamless and highly scalable visa processing service to B2B clients like travel agencies, MICE companies, online travel agencies (OTAs), and corporate travel departments. The platform uses AI to streamline visa applications, reducing processing errors and ensuring compliance, thus eliminating common headaches associated with traditional visa management.
In the past 12 months, StampMyVisa has seen growth, scaling from 50 to 350 visas processed daily—a 7 times increase. The company now aims to process a million visas annually within the next 12 to 18 months, positioning itself as a dominant force in India's visa processing sector. The platform's AI-driven capabilities enable it to target both Pan-India and global expansion, with plans to extend its services to tier-II and tier-III cities where demand is rapidly increasing.
With this new funding, StampMyVisa will expand its AI technology and introduce innovative products such as SMV Protect Insurance, which offers a refund of visa fees in cases of rejection, and a travel eSIM feature, both designed to enhance the value offered to clients and end-users.
Rahul Borude, co-founder and CEO of StampMyVisa, emphasized the market potential, stating, "We're seeing a rapidly growing middle class in India with an increasing appetite for global experiences. AI will revolutionise the way Indians manage visas while helping businesses scale effortlessly and empowering millions of new travellers to explore the world." He added that StampMyVisa aims to create the infrastructure needed to support a new era of global travel for Indian citizens.
The investment comes as India's outbound travel and e-Visa market experience a significant uptick. The global e-Visa market is projected to grow from $1,030.5 million in 2024 to $2,395.2 million by 2032, providing an ideal growth environment for StampMyVisa.
Anil Joshi, managing partner at Unicorn India Ventures, expressed confidence in StampMyVisa's ability to address a critical need, saying, "We believe the company's AI-powered approach will redefine how businesses manage global mobility, and we are excited to back them in their journey and help visa application process simple and human error free."
