Scapia expands travel and payment platform with $63m raise

Scapia has raised $63 million in a fresh funding round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47, highlighting continued investor interest in India’s travel-focused FinTech sector despite a broader slowdown in FinTech dealmaking.

The all-equity funding round values the Bengaluru-based startup at more than $500 million post-money, more than doubling its valuation from around $200 million in April 2025. Founded in 2022 by former Flipkart executive Anil Goteti, Scapia has now raised a total of $126 million.

The startup operates at the intersection of FinTech and travel, offering an app that combines co-branded credit cards, UPI-based payments, travel bookings and commerce services. The company is targeting younger Indian consumers seeking integrated travel rewards and digital payment experiences.

Scapia said its flight bookings increased nearly sixfold over the past year, while hotel bookings grew around eight times during the same period. Customer growth also rose sevenfold, driven increasingly by demand from smaller Indian cities.

The company’s co-branded credit card operates on both Visa and RuPay networks, allowing users to combine card-based payments and UPI-linked credit into a single repayment flow. Scapia currently partners with Federal Bank and BOBCARD for its card offerings and plans to add another banking partner in the coming months.

The investment comes at a time when FinTech investors are becoming more selective globally. According to recent market data, FinTech funding in India remained largely flat during the first quarter of 2026, while deal volumes declined significantly as investors focused on larger and more established startups.

However, investors appear optimistic about the long-term growth potential of India’s travel and digital payments ecosystem, particularly as UPI continues to dominate consumer transactions across the country.

Scapia said the fresh capital will be used to expand its product portfolio and strengthen hiring across AI-focused engineering and product development teams as competition intensifies in India’s consumer FinTech market.