Funding · Financial Services

Scapia raises $63 million in Series C funding round

What they do

Scapia offers travel-focused financial products including dual-network credit cards and rewards

The company raised $63 million led by General Catalyst at a post-money valuation of Rs 5,122 crore

Funds will support AI hiring and brand expansion to scale its finance and travel ecosystem

Scapia has raised $63 million in a Series C funding round.
The investment values the company at a post-money valuation of Rs 5,122 crore ($539 million).
General Catalyst led the round by investing approximately Rs 474 crore.
Existing investors Peak XV Partners and Z47 also participated in this financing.
Founder Anil Goteti remains the largest shareholder with a 33.6% stake in the firm.
This raise follows a Series B round of $40 million completed in April 2025.
Cumulative funding for Scapia now totals approximately $135 million across all rounds.
The company plans to use the capital for AI-native organizational building and hiring.

The new valuation is more than three times higher than the previous round's value.
Revenue grew significantly from Rs 17 crore to Rs 29 crore in fiscal year 2025.
The company continues to operate with a net loss despite revenue growth in recent years.
The funding supports expansion of its brand presence across India and its product ecosystem.

Scapia operates as a travel fintech company focusing on financial services for travelers.
It issues co-branded credit cards in partnership with Federal Bank and Bank of Baroda.
The company launched India's first dual-network card supporting both Visa and RuPay.
Its ecosystem includes Scapia Pay, add-on cards, and bill payment services via BBPS.
Users can earn Scapia Coins which are redeemable for flights, trains, buses, visas, and stays.
The platform also features a Scapia Store and curated Scapia Experiences for customers.
The business model combines financial instruments with travel rewards to drive customer engagement.
The company aims to scale its integrated finance and travel offerings across the Indian market.

The company intends to hire engineering, product, data science, and design talent.
Scapia plans to expand its brand presence across India using the new funds.
The firm aims to scale its combined finance and travel reward ecosystem further.

General Catalyst (lead) — Venture capital firm leading the Series C round with a significant investment.
Peak XV Partners (co-lead) — Existing investor participating in the round holding a 12.97% stake.
Z47 (participant) — Investor holding the largest external shareholder stake of 15.47% in the company.
Elevation Capital (existing) — Previous lead investor from Series A maintaining a 10% stake in the firm.

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.