Scapia Secures $63 Million in Funding to Expand Travel Fintech Services
Scapia secures $63 million funding from General Catalyst, Peak XV Partners and Z47
Image: The Economic Times
Scapia, a Bengaluru-based travel fintech startup, has raised $63 million in a funding round led by General Catalyst, with participation from Peak XV Partners and Z47. The funds will be used to enhance its product offerings and expand banking partnerships, as the company aims to grow its user base and services in the travel sector.
- 01Scapia has raised a total of $135 million since its founding in 2022.
- 02The startup's co-branded credit card is used 15 to 20 times a month by each user.
- 03Scapia plans to deepen integrations with additional banking partners beyond existing collaborations with Bobcard and Federal Bank.
- 04The company aims to expand its offerings to include travel merchandise and lending services in partnership with banks and non-banking financial companies.
- 05Scapia has experienced a seven to eight times growth over the past year.
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Scapia, a travel-focused fintech startup based in Bengaluru, India, has successfully secured $63 million in a funding round led by General Catalyst, with contributions from existing investors Peak XV Partners and Z47. This funding will enable Scapia to broaden its product portfolio in financial services and travel. The company, founded in 2022 by Anil Goteti, a former senior executive at Flipkart, has now raised a total of $135 million. Scapia's business model centers around a co-branded credit card that rewards users with points during travel-related transactions, such as hotel and flight bookings. Currently, the card is utilized 15 to 20 times monthly per user, reflecting the startup's rapid growth of seven to eight times over the past year. Looking ahead, Scapia plans to enhance its banking partnerships and expand into lending services, while also aiming to attract top talent in AI and engineering to support its growth strategy.
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This funding will enhance Scapia's ability to provide innovative travel-related financial services, benefiting users seeking rewards and travel merchandise.
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