Bengaluru-based travel fintech company Scapia has raised $40 million in series B funding, led by Peak XV Partners, with support from existing investors Elevation Capital, Z47, and 3STATE Capital.
According to the company, the funding will help product development, team expansion, and the integration of AI into its travel and financial services offerings.
“This funding represents much more than capital. It’s a validation of our core belief that travel shouldn’t be an occasional luxury that competes with other priorities, but an integral part of living a richer life,” said Anil Goteti, founder & CEO of Scapia on LinkedIn.
“With the support of PeakXV and our existing investors, we are poised to accelerate our product roadmap and deliver innovative solutions to travellers faster than ever before.”
Scapia’s co-branded credit card, developed in partnership with Federal Bank, offers competitive rewards, zero joining and annual fees, and no forex markup. Cardholders benefit from airport privileges, 10% rewards on transactions, and 20% rewards on travel bookings made through the app.
“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,” said Tejeshwi Sharma, managing director at Peak XV Partners.
The Scapia app allows booking and rewards redemption for airlines, hotels, visas, and transport, with flexible payment options such as “Travel Now, Pay Later”. It recently launched a RuPay version of its co-branded card to expand its reach in India’s digital payments market.
Scapia’s customers have used its card to travel to over 100 countries, and the company plans to expand its services further in the Indian market.
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