Last Updated: 4 April 2025
Scapia, a Bangalore-based travel fintech company, announced today it has raised $40 million in a Series B funding round led by Peak XV Partners. Existing investors Elevation Capital, Z47, and 3STATE Capital also participated.
The investment reflects strong interest in Scapia's co-branded credit card, catering specifically to the travel needs of Gen Z and millennials in India.
Scapia operates at the intersection of travel and fintech, tapping into India's rapidly expanding market. Millennials and Gen Z consumers now account for 50% of credit card issuance in India, creating an estimated $80–100 billion revenue opportunity by 2030.
"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 by merging a booming travel market with an untapped credit card market to offer a unique and delightful experience to this customer base. We are thrilled to partner with Anil and the team as they build an experience-led consumer internet company for the next decade."
Tejeshwi Sharma, MD, Peak XV
The new funds will enable Scapia to enhance its technology infrastructure, expand its product offerings, and leverage AI to develop customer-centric features. A significant portion of the funds will also be allocated towards team expansion, positioning Scapia to scale rapidly.
Scapia plans to build on recent successes, including the launch of a RuPay variant of its card to capture UPI-based transactions and extend its reach in India's expanding digital payments ecosystem.
"The travel fintech space represents a significant opportunity, especially considering that Gen Z and millennials now account for 50% of all credit card issuance in India—pointing to a rapidly growing, digital-first consumer base that will fuel an $80–100 billion annual revenue opportunity by 2030. Scapia's product-market fit positions them perfectly to capture an outsized share of this growing segment. Their co-branded card has tapped into exactly what the consumers want—zero joining & annual fees, no forex markup, and meaningful rewards that enhance the travel experience. We're confident in Scapia's continued momentum and pleased to strengthen our partnership with Anil and the team."
Mridul Arora, Partner, Elevation Capital
Founded by Anil Goteti, Scapia has quickly become a key player in India's travel fintech landscape. The company offers a co-branded credit card in partnership with Federal Bank, providing zero joining fees, no annual charges, and no forex markup.
Cardholders also enjoy unlimited complimentary domestic lounge access and substantial rewards on all transactions, particularly travel-related expenses booked via the Scapia app.
"Over the past three years, we have focused on creating exceptional travel products, forging strong banking partnerships, and building a talented team. This has rapidly positioned Scapia as the preferred co-branded card and travel app for Gen Z and Millennials in India. With the support of Peak XV and our existing investors, we are poised to accelerate our product roadmap and deliver innovative solutions to travellers faster than ever before."
Anil Goteti, Founder & CEO of Scapia
Since its inception, Scapia has consistently attracted investor attention due to its strong market fit. With the latest funding round, investors Peak XV, Elevation Capital, Z47, and 3STATE Capital continue to express confidence in Scapia’s ability to capture significant market share.
"Scapia is transforming how the next generation of Indians travel and spend on experiences. Anil and team have crafted delightful user journeys through industry-first innovations like Airport Privileges, while providing a full-service travel platform that includes buses and trains. Throughout this journey, they have also built a highly compliant fintech model with the Scapia co-branded credit card. We are privileged to be their earliest backers and are delighted to double down on our investment here. We welcome Peak XV to the partnership and look forward to Scapia’s continued scaling journey."
Vikram Vaidyanathan, Investor & MD, Z47
