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VISARUN.AI Raises $700K To Streamline MENA Visa Processing
The funding injection will enhance the company’s AI-driven platform, cutting processing and application times in the UAE and beyond.
AI-driven visa service platform VISARUN.AI has secured $700,000 in pre-seed funding from Swiss and UAE-based angel investors. The fresh capital will be used to enhance the platform, grow the sales team, and expand market presence across multiple regions.
Visa processing in the MENA region has become increasingly complex in recent years due to high application volumes and embassy staffing shortages. With wait times stretching from 4 to 12 weeks, businesses and travel agencies face significant hurdles in organizing trips. VISARUN.AI aims to simplify this process by eliminating paperwork and providing a more structured approach to visa applications.
At the heart of the VISARUN.AI platform is a Smart Visa Route system, which customizes application steps based on various factors such as travel destination, applicant nationality, and approval probability. Additionally, the company is developing an AI Interview Simulation feature, offering virtual consultations with real-time feedback to help applicants prepare more effectively.
“VISARUN.AI represents the future of visa process management. This fresh capital will enable us to fully automate visa processes and develop an advanced AI agent for comprehensive process management,” explained Vladimir Indjikian, President and co-founder of VISARUN.AI.
For businesses, the platform offers a Visa Approval Calculator, allowing users to estimate the likelihood of application success before making travel plans. An Advanced Document Verification system also ensures accurate document analysis, minimizing errors and streamlining the approval process.
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“Our core technology combines computer vision and advanced machine learning models to ensure accurate document verification. In fact, the custom-trained language model cross-validates applicant data, virtually eliminating processing errors,” explained Alena Iakina, co-founder and CCO of VISARUN.AI.
With the ability to process up to 10,000 visa applications per month and reduce manual labor by as much as 70%, VISARUN.AI is positioning itself as a game-changer in the industry, especially in a region where migrant workers and tourists lead to very high demand.
News
Saudi Digital Payments Reach 80% As Cash Use Shrinks
Visa data shows cards and mobile wallets dominate spending, with smartphones now driving a growing share of daily transactions.
Digital payments now account for 80% of all transactions in Saudi Arabia, according to Visa’s latest Where Cash Hides report, another marker of how quickly the Kingdom is moving away from cash.
The share is up four percentage points from a year ago. Around 67% of consumers are now largely non-cash users, paying mainly with cards or mobile wallets. Smartphones are taking a bigger role, with mobile payments making up 16% of transactions.
Cash is retreating in routine spending. Eating out dropped 9%. Bill payments fell 8%, as shoppers opt for faster checkouts and app-based payments.
“The data shows a steady move toward digital payments in Saudi Arabia. Such progress is possible only because banks, fintechs, merchants, and technology partners are moving together in the same direction, in line with the Kingdom’s Vision 2030,” said Ali Bailoun, Visa’s Senior Vice President and Group Country Manager for Saudi Arabia, Bahrain, and Oman.
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Despite the recent findings, it’s important to note that cash hasn’t yet disappeared. It still shows up for tips (39%), peer-to-peer transfers (28%) and rent (14%).
Visa points to security features such as tokenization, along with rewards and cashback, as factors nudging more spending onto cards and phones — a shift that tracks with Saudi Arabia’s wider Vision 2030 push to digitize commerce.
Saudi Digital Payments Reach 80% As Cash Use Shrinks
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