FinTech Scapia lands $40m in Series B led by Peak XV Partners

By Gloria Methri

Bengaluru-based travel FinTech startup Scapia has raised $40 million in Series B funding, led by Peak XV Partners, with participation from Elevation Capital, Z47, and 3STATE Capital. The funds will be used to expand its team, enhance product offerings, integrate AI, and accelerate growth.

In a press release, the company said the fundraiser demonstrates the demand for its co-branded credit card, which is driven by a surging consumer appetite for travel and a product specifically designed to meet Gen Z and millennial needs.

“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,” said Anil Goteti, Founder & CEO of Scapia.

Scapia’s co-branded credit card, launched in partnership with Federal Bank, has seen growing demand, particularly among Gen Z and millennial travelers. The card offers benefits such as zero joining and annual fees, no forex markup, and airport lounge access based on monthly spending. Cardholders earn 10% rewards on all purchases and 20% on travel bookings through Scapia’s platform.

The company’s app provides access to global airlines, over 500,000 hotels, visa services for 45 countries, and domestic travel options. It also includes flexible payment plans, including “Travel Now, Pay Later,” along with 24/7 customer support.

Over the past year, Scapia customers have used its credit card for travel in over 100 countries. Recently, the company introduced a RuPay variant of its co-branded card to tap into UPI-based payments and expand its reach in India’s digital payments ecosystem.