Key Takeaways
- • Scapia, a Bengaluru-based travel fintech, closed a $63 million Series C funding round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47.
- • Total funding raised by Scapia has reached $135 million to date, following previous raises that included a $40 million Series B led by Peak XV Partners.
- • The startup will deploy fresh capital to expand its product portfolio across financial services and travel segments, with plans to deepen banking partnerships beyond existing integrations with Bobcard and Federal Bank.
- • Scapia's core offering—a co-branded travel credit card with rewards for hotel, flight, and airport lounge bookings—has demonstrated strong engagement metrics, with users deploying cards 15-20 times monthly and 4-5 times annually for travel-specific expenses.
- • Founded in 2022 by Anil Goteti, a former Flipkart senior executive, Scapia has achieved 7-8x growth over the past year and plans to expand travel-focused merchandise and commerce offerings.
Summary
Travel-focused fintech startup Scapia has successfully closed a $63 million funding round led by US-based venture capital firm General Catalyst, marking a significant milestone for the Bengaluru-based company. Existing investors Peak XV Partners and Z47 also participated in the round. According to Anil Goteti, Scapia's cofounder, some investors increased their commitments on a pro-rata basis to maintain their shareholding positions, though the exact contribution from each investor was not disclosed.
This Series C raise brings Scapia's total funding to $135 million since its 2022 founding. The company previously secured $40 million in Series B funding led by Peak XV Partners, with additional backing from Elevation Capital and Tanglin Ventures. The capital infusion positions Scapia to accelerate expansion across its financial services and travel product segments.
Scapia's business model centers on a co-branded credit card that delivers enhanced rewards and points for travel-related transactions, including hotel and flight bookings, airport lounge access, and associated travel merchandise. The platform has demonstrated robust user engagement, with each cardholder using the card 15-20 times monthly overall, and 4-5 times annually specifically for travel expenses. Goteti noted the company has achieved 7-8x growth over the past twelve months, underscoring strong market traction.
The startup is actively expanding its banking partnerships ecosystem. Current integrations include Bobcard and Federal Bank, with Goteti indicating plans to establish deep integrations with one to two additional financial institutions. Beyond credit card offerings, Scapia intends to broaden its commerce portfolio with travel-specific merchandise, positioning itself as a comprehensive travel financial services platform rather than a single-product provider.
This Series C raise brings Scapia's total funding to $135 million since its 2022 founding. The company previously secured $40 million in Series B funding led by Peak XV Partners, with additional backing from Elevation Capital and Tanglin Ventures. The capital infusion positions Scapia to accelerate expansion across its financial services and travel product segments.
Scapia's business model centers on a co-branded credit card that delivers enhanced rewards and points for travel-related transactions, including hotel and flight bookings, airport lounge access, and associated travel merchandise. The platform has demonstrated robust user engagement, with each cardholder using the card 15-20 times monthly overall, and 4-5 times annually specifically for travel expenses. Goteti noted the company has achieved 7-8x growth over the past twelve months, underscoring strong market traction.
The startup is actively expanding its banking partnerships ecosystem. Current integrations include Bobcard and Federal Bank, with Goteti indicating plans to establish deep integrations with one to two additional financial institutions. Beyond credit card offerings, Scapia intends to broaden its commerce portfolio with travel-specific merchandise, positioning itself as a comprehensive travel financial services platform rather than a single-product provider.
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