Indian travel and financial services startup Scapia has raised $63 million in an investment round led by General Catalyst. Existing investors Peak XV Partners and Z47 also participated in this funding round. The deal is notable for taking place against the backdrop of a global fintech market slowdown, reports Techcrunch.com .
According to sources, the new investment round has pushed Scapia’s valuation past $500 million, more than double its $200 million valuation in April 2025. The four-year-old company has now raised a total of $126 million. The participation of General Catalyst, one of the most prestigious US venture capital firms, highlights strong international interest in the Indian travel market.
Founded in 2022 by former Flipkart executive Anil Goteti, the Scapia app integrates co-branded credit cards, UPI-based payments, and travel booking services into a single platform. UPI is the Indian government’s real-time payment network and is the most popular digital payment method among young Indians.
According to company data, flight bookings on the platform have increased 6x and hotel bookings 8x over the past year. The number of users has also grown 7x. In an interview, Goteti noted that young travelers prefer flexible reward systems over traditional perks, such as discounts at shops and restaurants rather than airport lounge access.
Scapia currently offers co-branded cards on the Visa and RuPay networks in partnership with Federal Bank and BOBCARD. Based in Bengaluru, the startup competes in the Indian market with local players like Niyo and Ixigo, as well as global fintech giants like Revolut that are planning to enter the country.
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