Travel Fintech Startup Scapia Raises $63M Led by General Catalyst, Valuation Crosses $500M
Bengaluru-based travel fintech startup Scapia has raised $63 million in a Series C funding round led by global investment firm General Catalyst, with participation from existing investors Peak XV Partners and Z47 . The all-equity round values the company at over $500 million, more than doubling its valuation from approximately $200 million in April 2025 . This brings Scapia’s total raised to $135 million since its founding in 2022 .
💳 From Credit Card to Full Travel Lifestyle Platform
Founded by former Flipkart senior executive Anil Goteti, Scapia combines co-branded credit cards, UPI-based payments, travel bookings, and commerce into a single integrated platform . The company partners with Federal Bank and BOBCARD for its dual-network cards, which operate on both Visa and RuPay—allowing users to access both card payments and UPI-linked credit through a single statement and credit line .
According to Goteti, the fresh capital will help Scapia become a “full-fledged travel lifestyle platform” rather than just a credit card-backed fintech firm, a vision the company has held since its early days . The company has recently launched several new products, including:
- Scapia Pay: a rewards-first UPI experience
- Scapia Store: an in-house marketplace for travel merchandise
- Scapia Experiences: curated tours and activities powered by an AI platform
- Add-on credit cards and BBPS bill payment integration
📈 Strong Growth Metrics: 5-6X Bookings Increase
Scapia’s growth metrics underscore the rising demand for integrated travel-finance solutions in India:
| Metric | Growth |
|---|---|
| Flight Bookings (YoY) | 5-6X |
| Hotel Bookings (YoY) | 8X |
| Customer Growth (YoY) | 7X |
| User Card Usage | 15–20 times/month |
| Travel-Related Card Usage | 4–5 times/year |
Source:
Domestic travel continues to dominate, accounting for 80–85% of bookings, while Goteti noted that consumers have shifted away from Middle Eastern destinations toward Southeast Asia and increased domestic travel amid macroeconomic uncertainty .
Tier-II and Tier-III Cities Drive Demand
Significantly, smaller Indian cities are driving a growing share of the platform’s bookings, indicating expanding digital adoption beyond metropolitan areas . Scapia’s co-branded credit cards are currently used across more than 17,500 pin codes in India and are accepted by merchants in over 150 countries .
🤖 AI-Led Expansion and Talent Strategy
A significant portion of the fresh capital will be deployed toward attracting and retaining top AI talent across engineering, product, data sciences, and design . The company plans to infuse its products with AI-led personalisation to enhance travel discovery and booking experiences .
Goteti emphasised that the company’s focus remains on building an AI-first culture and product approach, which includes developing an AI platform for curated tours and activities globally .
🏦 Strategic Banking Partnerships
Scapia currently works with Federal Bank and BOBCARD for its co-branded card offerings. Goteti indicated that the company is looking to add one or two more banking partners to deepen integrations, though he cautioned against adding too many partners and diluting the offering . The company does not plan to set up its own NBFC in the near term, instead preferring to partner with banks for lending products .
🌍 The Bigger Picture: Why This Matters
Scapia’s funding comes at a time when global fintech dealmaking has slowed considerably. According to Tracxn data, while India’s fintech funding remained largely flat in Q1 2026, the number of deals fell by more than half as investors concentrated capital into fewer, larger transactions .
Key reasons for investor confidence include:
- Post-pandemic travel rebound → India’s tourism sector has grown 7.3% in 2026 with strong domestic demand
- Digital payments maturity → UPI now accounts for 86% of retail payment volumes in India
- Young consumer demographics → Millennials and Gen Z prefer flexible, app-based travel and payment solutions
- AI integration → Personalization and automation are becoming key differentiators in consumer fintech
That General Catalyst—one of the most prominent U.S. venture firms—is leading the round suggests that India’s travel-focused fintech market is drawing serious attention well beyond its home region .
🔮 What’s Next for Scapia?
With a strengthened balance sheet, Scapia plans to:
- Scale its customer base across India, particularly in Tier-II and Tier-III cities
- Expand product offerings across travel categories and commerce
- Build AI-led personalisation into its platform
- Potentially open up the platform to non-card users on a trial basis for avid travellers
- Add one or two new banking partners for co-branded cards
The 250-member strong team at Scapia is now poised to execute on this vision, having secured validation from one of Silicon Valley’s most respected venture firms. As Goteti put it: “Our focus remains unchanged: building products that help our users travel and lead richer lives” .
For more updates on India’s startup ecosystem, funding trends, and fintech innovation, keep it locked on StartupPoint.in.
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