Scapiaan Indian startup that combines travel bookings with co-branded credit cards and mobile payments has raised $63 million in a funding round led by General Catalyst, with existing investors Peak XV Partners and Z47 also participating. The deal comes despite a broader slowdown in fintech transactions.
The all-equity rounds give the startup a post-money valuation of more than $500 million, according to a source familiar with the matter, more than doubling its valuation from about 200 million dollars in April 2025. The four-year-old outfit has raised $126 million to date from investors.
The fact that General Catalyst, one of the most prominent venture capital firms in the US, is leading the round suggests that India’s travel-focused fintech market is getting serious attention far beyond its home region.
The funding comes as global investors become more selective in their fintech bets after years of aggressive funding. In India, fintech funding remained largely flat in Q1 2026, while the number of deals more than halved from a year earlier as investors concentrated capital in fewer, larger deals, per recent report by Tracxn. In contrast, the US has seen fintech funding rise sharply, driven by long laps for a handful of companies in areas such as artificial intelligence and crypto infrastructure.
Investors are betting that Scapia can benefit from growing demand among younger Indians for apps that combine payments and travel bookings. Founded in 2022 by ex-Flipkart executive Anil Goteti, the startup’s app combines credit cards, UPI-based payments, travel bookings and commerce in one place. UPI — the real-time payments network backed by the Indian government and one of the most widely used digital payment systems in the world — is central to how younger Indians move money today.
Over the past year, Scapia said flight bookings on its platform have grown nearly six-fold, while hotel bookings have grown roughly eight-fold, with smaller Indian cities driving the share of demand. Customer growth also increased sevenfold over the same period, the startup said, without disclosing absolute figures.
Scapia has seen strong adoption from younger travelers who increasingly want flexible travel rewards and built-in payment options instead of traditional credit card benefits, Goteti said in an interview. He added that a third of users now prefer airport dining and shopping to lounge access.
“The salons are very crowded,” Goteti told TechCrunch. “People are really looking for an experience outside of the living room.”
Scapia also offers a dual-network credit card using Visa and RuPay – a government-backed payment network in India – that allows users to access UPI-linked card and credit payments through a single statement, line of credit and payment flow. In addition, the startup is working with Federal Bank and BOBCARD to offer co-branded cards and plans to add one more bank partner in the coming months, Goteti said.
The Bengaluru-based startup operates in a growing market for travel-focused financial products in India, competing with the likes of Niyo — another Indian startup combining banking and travel functions — and travel platform Ixigo, while global fintechs including Revolut are also eyeing the country.
Scapia, which has about 250 employees, said the new funding will be used to expand its product offerings and hire more technical and AI-focused product talent as competition in India’s consumer fintech market intensifies.
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