Travel-focused fintech Scapia has raised $63 million in a round led by General Catalyst. The deal is among the larger consumer internet fundraises in India outside quick commerce this year.
Existing investors Peak XV Partners and Z47 also participated in the round. Scapia's other backers include Elevation Capital and 3state Ventures, the firm formed by Flipkart co-founder Binny Bansal. The latest round takes the company's total funding since its 2022 launch to more than $132 million. The new capital arrives less than a year after Scapia secured about $40 million at a valuation of nearly $200 million.
While the company has not disclosed its latest valuation, some media reports have pegged it at $500 million. Anil Goteti, a former Flipkart executive, founded Scapia as a travel and financial services platform for mainly Gen Z and millennial users. Unlike conventional online travel players, it is an integrated consumer ecosystem where payments, rewards and bookings reinforce each other. Scapia's first offering was a co-branded travel credit card, issued by partners Federal Bank and Bobcard.
It then added more credit products, travel bookings (flights, trains, hotels, etc), UPI payments, visa services and shopping. Customers earn 'Scapia Coins' on everyday spending and redeem them on travel. "We are a full platform and ecosystem. Many people don't recognise it.
They think it's a card and just a card, but it's actually a full platform," Goteti told The Arc in an interview. Flight bookings through Scapia have grown five- to six-fold over the past year, while hotel stays have increased eight-fold. The company plans to use the fresh capital to scale customer acquisition, strengthen its brand and invest more in AI-driven personalisation and product development.
While the company has not disclosed its latest valuation, some media reports have pegged it at $500 million. Anil Goteti, a former Flipkart executive, founded Scapia as a travel and financial services platform for mainly Gen Z and millennial users. Unlike conventional online travel players, it is an integrated consumer ecosystem where payments, rewards and bookings reinforce each other. Scapia's first offering was a co-branded travel credit card, issued by partners Federal Bank and Bobcard.
It then added more credit products, travel bookings (flights, trains, hotels, etc), UPI payments, visa services and shopping. Customers earn 'Scapia Coins' on everyday spending and redeem them on travel. "We are a full platform and ecosystem. Many people don't recognise it.
They think it's a card and just a card, but it's actually a full platform," Goteti told The Arc in an interview. Flight bookings through Scapia have grown five- to six-fold over the past year, while hotel stays have increased eight-fold. The company plans to use the fresh capital to scale customer acquisition, strengthen its brand and invest more in AI-driven personalisation and product development.
Customer profile: The platform's customer base is concentrated among urban professionals aged 23 to 35 who take trips multiple times a year and spend more than the national average on travel, according to Goteti.
A rising share of users on the platform is also coming from tier-2 and tier-3 cities. "Our average spending is already 40-50% higher than the average on travel in the country," Goteti said, referring to spending on the platform. Scapia has rolled out several products in the past six months, including Scapia Pay, add-on credit cards, BBPS bill payments and a shopping marketplace for travel-related products. It is also moving upstream by signing direct hotel contracts and building its own flight-ticketing infrastructure.
Goteti said that the company was increasingly focused on affordability and lending products for younger consumers who travel frequently but may have limited credit histories. While it does not currently operate as a non-banking lender, it plans to work closely with regulated financial institutions to expand EMI, travel-credit and insurance offerings. "We have a shot at becoming a beloved consumer internet platform for Gen Zs and millennials. We are building it brick by brick," Goteti said.
A rising share of users on the platform is also coming from tier-2 and tier-3 cities. "Our average spending is already 40-50% higher than the average on travel in the country," Goteti said, referring to spending on the platform. Scapia has rolled out several products in the past six months, including Scapia Pay, add-on credit cards, BBPS bill payments and a shopping marketplace for travel-related products. It is also moving upstream by signing direct hotel contracts and building its own flight-ticketing infrastructure.
Goteti said that the company was increasingly focused on affordability and lending products for younger consumers who travel frequently but may have limited credit histories. While it does not currently operate as a non-banking lender, it plans to work closely with regulated financial institutions to expand EMI, travel-credit and insurance offerings. "We have a shot at becoming a beloved consumer internet platform for Gen Zs and millennials. We are building it brick by brick," Goteti said.