Funding · Financial Services
Scapia raises $63M in Series C funding led by General Catalyst
By Startup Enthusiast ·
- Date
- Company
- Scapia
- What it does
- Travel fintech marketplace for young Indians
- Kind
- Funding
- Amount
- $63M
- Stage
- Series C
- Founded
- 2022
- Sector
- Financial Services
What they do
Scapia operates a travel and financial services platform targeting Gen Z and millennials with bookings and credit cards
What happened
The company secured $63 million in primary Series C funding led by General Catalyst to expand its user base and AI capabilities
Why it matters
Operating revenue grew 71 percent year-on-year while the firm scaled customer numbers eight-fold across Indian cities
The details
- Scapia raised $63 million in a Series C funding round.
- General Catalyst led the investment in this all-primary transaction.
- Existing investors Peak XV Partners and Z47 participated in the round.
- Total capital raised by Scapia now stands at $135 million.
- The company plans to use funds to scale its customer base across India.
- Scapia will accelerate its AI-first approach and hire AI-native talent.
- Brand building efforts are part of the strategic growth plan.
The bigger picture
- India's Gen Z population is expected to spend $102 billion on travel by 2030.
- One in three consumers spends more than 20 percent of income on travel.
- The market context supports aggressive expansion into Tier-II and Tier-III cities.
About the business
- Scapia operates at the intersection of travel and fintech services.
- It offers a marketplace for flights, hotels, and domestic transport bookings.
- The platform provides co-branded credit cards with Federal Bank and Bank of Baroda.
- These cards feature zero forex markup on international spends.
- Users receive unlimited domestic lounge access and airport privileges.
- Rewards are managed through a system called Scapia Coins.
- The app includes Scapia Pay, a rewards-first UPI payment solution.
- Customers can purchase apparel and gadgets via the Scapia Store.
- An AI-powered package booking service is available through Scapia Experiences.
What happens next
- Scapia aims to add new banking partners before Q3 starts.
- The company will explore temporary loans for travelers.
- Expansion of AI audio-visual interfaces is planned.
- Hiring for engineering, data science, and design roles will continue.
The deal
- Type
- Series C
Investors
- General Catalyst (lead) — Global venture capital firm leading the Series C round.
- Peak XV Partners (co-lead) — Existing investor participating in the new funding round.
- Z47 (participated) — Existing investor supporting the company's growth.
Founders
- Anil Goteti, Founder & CEO
About Scapia
- Product
- A travel platform and co-branded credit cards for trip planning and payments.
- Customers
- Consumers, especially newer and younger travellers in India.
- How it makes money
- It earns from travel-related transactions and card-based financial services.
- What sets it apart
- Combines travel services with payment products and a broader travel ecosystem.
- Operations
- It offers flights, hotels, visas, trains, buses, experiences, and card partnerships with banks.
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