On the heels of an eightfold increase in hotel bookings, Indian travel-fintech startup Scapia has secured $63 million in a Series C funding round led by General Catalyst. The fresh equity, which included participation from existing backers Peak XV Partners and Z47, values the Bengaluru-based company at over $500 million—more than doubling its valuation from last year. The capital injection arrives as transaction volumes spike across India's Tier-2 and Tier-3 cities, cementing Scapia's position as a dominant comprehensive travel ecosystem.
The company operates a comprehensive travel ecosystem underpinned by proprietary financial products, including co-branded credit cards issued in partnership with Federal Bank and BOBCARD. Scapia was the first entity in India to launch a dual-network co-branded credit card operating across both Visa and RuPay networks. Over the past six months, the firm expanded its financial software features to include Scapia Pay, a rewards-first Unified Payments Interface experience, add-on credit cards, the Scapia Store, and credit card bill payment capabilities across all banks via the Bharat Bill Payment System.
The newly secured funds are designated to scale the platform to millions of customers across India and accelerate an AI-first approach to building products and engineering teams. Scapia intends to deploy a significant portion of the capital toward brand expansion and recruiting technical talent across engineering, product management, data sciences, and design. Discussing the corporate strategy for the fresh capital, founder and CEO Anil Goteti stated, "This round will help us strengthen our product suite further, bring more value to our customers through more offerings, scale the brand and bring in the best talent as we double down on building an AI-first culture and product approach."
