Business visa platform secures six-figure backing

A travel technology start-up has secured fresh investment to support its growth as demand for its automated business visa platform continues to increase.

VisaDoc has received a six-figure investment from NPIF II – Mercia Equity Finance, managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II).

The funding will help the business meet growing customer demand ahead of a larger funding round planned for next year and comes as many countries tighten visa requirements.

Launched in March, VisaDoc’s platform automates the business visa application process, helping organisations create, validate and manage applications across more than 190 destinations while giving employers greater visibility over employee travel.

The platform has already been adopted by more than 100 global organisations, including Toyota, Anglo American, RELX plc and the Civil Aviation Authority.

Founded by James Tomlin and Oleh Voronko, who previously held senior roles with a US-based visa services provider, the company is now preparing to establish a team in Leeds as it continues to scale.

James said: “Millions of employees travel overseas on business each year and every big company has visa horror stories to tell. 

“At best, staff may be denied entry to a country – at worst they can be fined, permanently banned or even end up in jail. 

“Our platform helps companies ensure compliance with the rules, manage business trips more effectively and save time.

“There is nothing like this on the market currently and we have had overwhelming demand. 

“The funding will enable us to expand the team and roll it out to more customers as we start to scale the business.”

Mattia Scalabrin, investor at Mercia Ventures, added: “Visa application is complex and cumbersome with a high reliance on manual processes, whether by companies themselves or by external service providers. 

“James and Oleh saw an opportunity to automate these process and their new platform has quickly taken off. 

“We believe it could transform this part of the business travel market and are pleased to support them as they prepare to raise a larger funding round.”

The £660 million NPIF II fund, which is operated by the British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses, driving innovation and creating opportunities for businesses to grow, scale, and thrive.

Sarah Newbould, senior investment manager at the British Business Bank, added: “Through NPIF II we’re proud to be supporting innovative businesses such as VisaDoc to provide new services to international markets and some of the world’s biggest businesses.

“By backing these businesses we are stimulating job creation and regional growth in the North whilst also promoting international activity.”

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