Scapia valuation tops $500 million amid travel fintech growth

Scapia, an Indian startup combining travel booking with co-branded credit cards and mobile payments, has raised $63 million in a funding round. The investment was led by U.S.-based venture capital firm General Catalyst, with participation from existing investors Peak XV Partners and Z47. According to a source familiar with the matter, the transaction assigns Scapia a post-money valuation of more than $500 million. This figure more than doubles the startup’s previous valuation of around $200 million in April 2025. With this latest round, the company has raised $126 million to date since its founding in 2022.

The capital injection follows a period of growth for the company. Over the past year, Scapia reported significant expansion across its core travel and customer metrics:

• Flight bookings on the platform grew nearly six times.
• Hotel bookings increased about eightfold.
• Customer growth rose sevenfold.

According to founder Anil Goteti, a former Flipkart executive, these metrics reflect shifting consumer habits among younger travelers in India who are moving away from traditional credit card perks. Goteti noted that one-third of users now prefer airport dining and shopping rewards over lounge access. “Lounges are getting quite crowded,” Goteti said.

Scapia offers a dual-network co-branded credit card through partnerships with Federal Bank and BOBCARD. The card operates on both the Visa and RuPay networks—the latter being a government-backed Indian payment network. This integration allows users to access card payments and credit lines linked to UPI, which is India’s government-backed real-time payments network, through a single statement and credit line. The startup, which currently has a headcount of 250 employees, plans to use the fresh capital to expand its product offerings and hire engineering and product talent. Scapia operates in a competitive travel-fintech landscape in India, facing local rivals such as Niyo and travel platform Ixigo, while global firms like Revolut also eye the market.

Why it matters

The funding round, led by General Catalyst, highlights growing investor interest in India’s travel-focused fintech market despite a broader slowdown in deal-making.