The fresh funding round is led by General Catalyst, with participation from existing investors Peak XV Partners and Z47
Scapia said it also plans to deploy the funds to accelerate its AI-first approach for building products and teams while increasing the customer base across India
Founded in 2022 by Goteti, Scapia offers co-branded credit cards in partnership with Federal Bank and Bank of Baroda, tailored for Gen Z and millennial travellers
Travel-focused fintech startup Scapia
has raised $63 Mn (around ₹600 Cr) in a fresh funding round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47.
A significant portion of the fresh funds will be deployed towards brand building. Scapia said it also plans to deploy the funds to accelerate its AI-first approach for building products and teams while increasing the customer base across India.
The Bengaluru-based startup plans to deploy a part of the capital to strengthen its product suite, founder and CEO Anil Goteti said.
Founded in 2022 by Goteti, Scapia offers co-branded credit cards in partnership with Federal Bank and Bank of Baroda, tailored for Gen Z and millennial travellers. Operating on the Visa network, the card provides benefits such as zero forex markup, unlimited domestic lounge access, and travel-focused rewards, among others.
The startup also has a travel app which allows users to book airline tickets, hotel properties and domestic transport options. The startup said it has introduced a series of new products in the past six months, including rewards-first UPI experience Scapia Pay, add-on credit cards, credit card bill payments across all banks via BBPS, the Scapia Store, Scapia Experiences and more.
The startup offers travel-focused products from brands including Columbia, Daily Objects, Tripole, Nasher Miles, XYXX, Assembly, among others, via Scapia Store. The shopping platform offers a wide range of products under categories spanning apparel, accessories, gadgets, luggage, and travel gear. Meanwhile, Scapia Experiences is an AI-powered platform which helps travellers find and book relevant travel packages based on their preferences, budget, and time.
The fundraise comes almost a year after Scapia raised $40 Mn in its Series B funding round led by Peak XV partners, with participation from Elevation Capital and Z47, in April last year. With the fresh fundraise, the startup has raised a total of $135 Mn to date.
On the financial front, the startup managed to trim its FY25 net loss by 6% to ₹ 83 Cr from ₹87.9 Cr in the previous fiscal. Operating revenue zoomed 71% to ₹28.7 Cr from ₹16.8 Cr in FY24. Including other income of ₹11.6 Cr, total income for the period stood at ₹40.4 Cr.
Notably, Scapia resumed selling its co-branded credit cards last year following a year-long pause amid regulatory and customer issues.