Scapia, a travel fintech company, has raised $40 million in Series B funding, led by Peak XV Partners. Existing investors Elevation Capital, Z47, and 3STATE Capital also participated in the round. The funding will be used to expand Scapia’s team, improve its products, adopt new AI technologies, and speed up its growth plans.
Scapia’s growth has been fueled by rising demand for its co-branded credit card, developed in partnership with Federal Bank. The card offers zero joining and annual fees, no forex markup, and rewards designed for Gen Z and millennials. Cardholders earn 10% rewards on all transactions with an enhanced 20% rewards on travel bookings made through Scapia.
Scapia’s app allows users to book travel and redeem rewards across 500,000+ hotels, global airlines, visas for 45 countries, domestic transport options, and curated experiences through Scapia Unmapped. The app includes features like flexible payment options and 24/7 customer support.
“Over the past three years, we have focused on creating exceptional travel products, forging strong banking partnerships, and building a talented team. This has rapidly positioned Scapia as the preferred co-branded card and travel app for Gen Z and Millennials in India. With the support of Peak XV and our existing investors, we are poised to accelerate our product roadmap and deliver innovative solutions to travellers faster than ever before,” said Anil Goteti, Founder & CEO of Scapia.
“Millennials and Gen Z are turning travel into a guilt-free, all-pleasure experience, which is setting the stage for rapid growth in the travel industry in India. Scapia is uniquely positioned to fuel this revolution by merging a booming travel market with an untapped credit card market to offer a unique and delightful experience to this customer base. We are thrilled to partner with Anil and the team as they build an experience-led consumer internet company for the next decade,” said Tejeshwi Sharma, MD, Peak XV.
