Indian travel fintech startup Scapia has crossed the $500 million valuation mark after raising $63 million in its latest Series C funding round. Founded by former Flipkart executive Anil Goteti, the company is growing rapidly by combining credit card services with travel rewards and digital travel solutions.
How Scapia Started
Scapia was founded in January 2022 with the aim of creating a travel-focused financial platform for young Indians. After working on the product for nearly 18 months, the company launched its co-branded credit card in partnership with Federal Bank in 2023.
The startup mainly targets Millennials and Gen Z customers who travel frequently and prefer managing their finances through digital platforms.
More Than Just a Credit Card
Over the past few years, Scapia has expanded beyond credit cards. Users can earn Scapia Coins on regular spending and travel bookings, which can be used to book flights, hotels, buses, and other travel services through the app.
The company has also introduced several new features, including travel insurance, add-on cards for family members, train bookings, visa assistance, and an AI-powered platform that helps users discover travel experiences around the world.
Revenue Grows While Losses Reduce
Scapia is still investing heavily in growth, which means it continues to report losses. However, its financial performance has shown improvement.
In FY25, the company reported operating revenue of around ₹29 crore, higher than the previous year. At the same time, its losses reduced slightly as the business became more efficient and spending on customer acquisition was better controlled.
Funding Takes Valuation Past $500 Million
The latest Series C funding round was led by General Catalyst, with support from existing investors including Peak XV Partners and Z47.
With this investment, Scapia’s valuation has reached about $539 million. So far, the startup has raised around $135 million across different funding rounds, showing strong investor confidence in its business model and future growth plans.
Focus on AI and Future Growth
Scapia plans to use the fresh funds to strengthen its technology and build more AI-powered products. The company is also looking to hire more talent in engineering, product development, and data science.
Most of the spending on the platform currently comes from domestic travel, which continues to grow strongly. As India’s travel and fintech sectors expand, Scapia is also exploring new services such as short-term travel loans to offer more value to its customers and create new revenue opportunities.