Begreat Capital, Coremind Ventures and Laren Capital become majority shareholders in Visagov

/COMUNICAE/

Visagov is a Traveltech Startup for tourist and travel visa processing. The client base spans all five continents, but the most significant markets are the USA, the UK, northern Europe and Australia.

VISAGOV (https://www.visagov.com) is a startup founded in 2021 by entrepreneur Virginia Carmona and business angel Javier Martín. This Traveltech company is dedicated to the creation of auxiliary services for the tourism sector, also known in the airline and cruise industries as ancillaries. Following the acquisition of the majority stake, the remaining equity will remain in the hands of the entrepreneurs and key members of the team.

The company’s main product is a SaaS (Software as a Service) for online tourist and business visa processing. Each year, more than 240 million people need a temporary visa or travel authorization to enter a foreign country, whether they travel for tourism or business. 

Visagov’ platform allows for the application process to be carried out in a quick and straightforward manner, and entirely online. It also eliminates the need of having to go in person to the corresponding embassy or consulate, saving the user time and the inconvenience of traveling. The platform utilizes OCR systems, algorithms and AI with a direct connection to each government’s system.

The consumer has to fill out an application form, upload the necessary documentation and simply wait to receive the approved visa, which will be sent to their residence or via email. Within its business plan, the company envisions the rollout of new projects to make traveling easier and expand the current range of services offered by travel agencies, tour operators, hotel chains, and airline and cruise companies.

The development of technologies such as affiliation systems, white-label, direct access to their backend and an API has also made it possible to reach collaboration agreements with more than 3,500 companies in the sector, creating a B2B channel and a specific support service for this sector.

The company currently has a head office in Barcelona and 48 employees, most of them developers. Just in 2023,  Visagov has processed over 168.000 visas with a success rate of 99,7%. Its gross revenue surpassed €15 million with an EBITDA of €3 million. The client base spans all five continents, but the most significant markets are the USA, the UK, northern Europe and Australia.

Fuente Comunicae

Source: Colombiaprensa Comunicae