Mumbai, 13 November 2024: StampMyVisa, a groundbreaking AI powered platform set to transform the B2B travel sector has raised INR 6.6 crore in a Pre Series A round from Unicorn India Ventures.

This capital infusion will fuel StampMyVisa’s rapid expansion, enhance its AI capabilities, and enable the company to introduce innovative services that will redefine how businesses manage international travel and visa processes for Indians travelling abroad.

StampMyVisa is emerging as a game-changer in the travel and visa processing space. With its cutting-edge AI-driven platform, the company is solving a huge pain point for travel agencies, corporates, OTAs, MICE companies, and other businesses by streamlining the complex and often error-prone process of visa applications. In just one year, StampMyVisa has achieved impressive growth, scaling 7X. The company is on track to hit a million visas annually in the next 12–18 months, positioning itself as a dominant player in the growing visa processing market.

The newly raised funds will also be deployed to expand StampMyVisa’s geographical footprint across India, enhance its AI-driven technology, and launch next-generation products, including SMV Protect Insurance (a unique offering that refunds visa fees in case of rejection) and Travel eSIMs, providing further value to the platform’s customers.

As international travel continues to surge—especially among Indian travellers from across the country and especially from the tier-2 and tier-3 cities—businesses are under increasing pressure to simplify and accelerate visa processing. Currently, India has one of the lowest passport ownership rates, with only 8% of the population holding a passport. This untapped market represents a massive opportunity for StampMyVisa to drive growth in a sector poised for explosive expansion

Rahul Borude, Co-founder & CEO, StampMyVisa, said, “The travel sector is on the cusp of a major shift. 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. We’re not just building a platform for today’s needs; we’re creating the infrastructure that will support the next wave of global travel.”

The global e-Visa market is projected to grow at a CAGR of 11.1% from USD 1,030.5 million in 2024 to USD 2,395.2 million by 2032, providing a massive growth runway for StampMyVisa. With its innovative use of AI to automate visa submissions, enhance compliance, and reduce processing errors, StampMyVisa is uniquely positioned to capture significant market share.

Anil Joshi, Managing Partner, Unicorn India Ventures, commented on the investment, “Indian travellers are venturing abroad like never before, and the need for seamless, scalable, and digitised solutions in visa processing is critical. StampMyVisa is filling a major gap in the fragmented B2B market by offering a transparent, efficient, and future-proof platform. 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.”

Scaling for the Future

In just 12 months, StampMyVisa has grown more than 7x, handling hundreds of visas daily while ensuring complete compliance with global regulations. The company’s expansion plans include scaling operations across India and further enhancing its AI technology, with a focus on making visa processing faster, more accurate, and accessible to a wider audience.

The company’s ambitious roadmap also includes introducing new offerings that will not only enhance the customer experience but will make StampMyVisa a one-stop solution for all international travel needs, ranging from visa processing to travel insurance and eSIMs.