Travel fintech startup Scapia has successfully raised $23 million in its Series-A funding round, with Elevation Capital and 3State Ventures taking the lead. The investment will be instrumental in expanding Scapia’s customer base, onboarding additional banking partners, and fortifying its product suite, according to founder Anil Goteti. The round also witnessed the continued support of existing investors, including Matrix Partners India and Tanglin Venture Partners.
Within a brief five months since its launch, Scapia boasts card distribution across more than 7,500 pin codes. The startup’s app and card users enjoy travel privileges spanning 50 countries across five continents. Scapia’s co-branded card, developed in collaboration with Federal Bank, stands out with zero joining and annual fees, a forex markup of zero, and unlimited domestic lounge access. Users benefit from a 10% reward on every transaction, earning ‘Scapia coins.’
Scapia has further enhanced its offerings with a dedicated travel platform within the app, allowing customers to redeem their accumulated coins for flight and hotel bookings. Mridul Arora from Elevation Capital emphasized the transformative impact of fintech in making travel more accessible and delightful for Indians. Binny Bansal of 3STATE Ventures highlighted Scapia’s distinctive solutions tailored for travel, addressing a crucial need for aspiring Indians in the evolving fintech landscape.
That’s fantastic news! Scapia is making waves in the travel fintech industry. They have recently secured an impressive ₹23 crore in funding, which is a huge accomplishment. It’s exciting to see them becoming a major player in the tech world. Sending my best wishes to the Scapia team!
~ Dr Shishir Gupta founder & CEO of StartupLanes
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