Scapia is a travel-centric fintech startup founded by Anil Goteti, a former Flipkart senior executive. The company has raised USD 40 million (~INR 342.24 crore) in Series B funding round led by Peak XV Partners. The funding round also saw participation from existing investors Elevation Capital, Z47 and 3STATE Capital.
In just 10 months, Scapia has raised over USD 70 million (~INR 598.83 crore). That’s following a USD 9 million (~INR 76.99 crore) seed round in June 2022 and a USD 23 million (~INR 196.75 crore) Series A round in November. The speed of Scapia’s rise—and its total funding—underscores just how well its product fits the market—and how clear its founder-led team is on strategy.
Journey of Scapia
Bengaluru is home to Scapia, which has quickly become a force to be reckoned with in India’s travel fintech segment. At its heart, Scapia launched a co-branded credit card with Federal Bank. That card comes with no joining or annual fees, no forex markup, unlimited domestic lounge access and up to 20% travel rewards on bookings made through Scapia’s platform.
That resonates with India’s Gen Z and millennial consumers—the two cohorts that now account for over 50% of all credit card issuances in the country. Scapia is smartly targeting those increasingly affluent and experience-driven consumers, turning their everyday spending into travel privileges. Users have already traveled to over 100 countries in the past year using the card.
In addition to the Visa-powered card, Scapia recently introduced a RuPay variant. That move plays right into India’s growing UPI-based payments ecosystem. It also aligns with the broader national trend of credit-on-UPI adoption—something digital-first consumers are demanding more and more of. Greater flexibility and rewards are what they want.
Use of Funds: AI, Acquisitions, and Acceleration
Scapia Series B funds will be deployed towards three core objectives: product development, AI integration, and team expansion. The company is also open to acquiring synergistic startups that can bring differentiated talent or technology into the fold.
“We are going to invest a lot in product development. We are going to invest a lot in AI as well,” said founder and CEO Anil Goteti. “We have a bunch of ideas that we are going to try out and see how that plays out for customers.”
Goteti further highlighted Scapia’s openness to acquisitions, particularly of startups that have strong ideas but lack distribution scale. “I’m open to good acquisitions—teams that need a larger platform to bring their ideas to life,” he added.
The broader vision appears to be to evolve Scapia from a card issuer into a full-stack travel and financial services platform, enabled by AI and driven by an intuitive mobile app. The app already supports bookings across global airlines, over 5,00,000 hotel properties, and even domestic transport options like buses and trains. Features like “Travel Now, Pay Later,” visa support across 45 countries, and 24/7 customer service help differentiate it from legacy players.
Investor Confidence and Market Tailwinds
Tejeshwi Sharma, Managing Director at Peak XV Partners, emphasized that India’s USD 80–100 billion travel fintech market is still in its early innings. “Millennials and Gen Z are turning travel into a guilt-free, all-pleasure experience. Scapia is uniquely positioned to fuel this revolution,” he said.
Mridul Arora, Partner at Elevation Capital, echoed the sentiment, noting that Scapia’s appeal lies in its frictionless user experience. “They have tapped into exactly what the consumers want—zero fees, no forex markup, and meaningful travel rewards. Their momentum is real.”
Vikram Vaidyanathan of Z47, one of Scapia’s earliest backers, added: “They’ve built a highly compliant fintech model while delivering delightful travel experiences. We’re doubling down on our investment.”
Looking Ahead
Scapia’s rise is emblematic of a broader shift within Indian fintech, where the focus is gradually moving from mere transactional convenience to lifestyle-driven financial services. The convergence of credit, travel, and rewards within a single app signals the coming of age of a new category: experience-first fintech.
While traditional banks continue to offer co-branded cards with limited differentiation, Scapia’s proposition—especially its unified travel booking + rewards + card model—sets it apart as a serious challenger brand.
These successful funding indicate that the company may launch its IPO in the upcoming years. Many fintech companies are planning to launch their IPOs in this fiscal year, some prominent names are PhonePe, IndiQube, Smallcase, and others.
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