Scapia Raises $63 Mn To Strengthen Product Suite

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 cards 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 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. 

(The story will be updated soon)

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