Travel fintech startup Scapia raises $40 million in a Series B round

Scapia, a Bengaluru-based travel fintech startup, has raised $40 million in a Series B funding round led by Peak XV Partners, with participation from Elevation Capital, Z47, and 3STATE Capital. 

The fresh capital comes as India's younger demographic is embracing travel-centric financial products, positioning the startup for rapid expansion in a fast-evolving market.

Founded by Anil Goteti, a former Flipkart executive, Scapia has quickly emerged as a preferred travel and credit card platform for Gen Z and millennial users. The startup said it would use the new funds to bolster its team, enhance its product offerings, integrate artificial intelligence across operations, and scale its platform to meet growing demand.

"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 Goteti, founder and chief executive officer.

A credit card for the jet-set generation

Scapia's co-branded card was developed in partnership with Federal Bank and features zero joining or annual fees, no forex markup, and perks such as unlimited domestic lounge access and airport privileges based on qualifying monthly spending.

The startup also enables customers to earn 10% in rewards on everyday purchases, and 20% on travel bookings made through the Scapia platform. Over the past year, cardholders have used it to travel to more than 100 countries, it claims.

"Millennials and Gen Z are turning travel into a guilt-free, all-pleasure experience,” said Tejeshwi Sharma, Managing Director at Peak XV. "Scapia is uniquely positioned to fuel this revolution by merging a booming travel market with an untapped credit card market.”

The startup's app enables seamless booking and rewards redemption across global airlines, 500,000+ hotel properties, visas for 45 countries, domestic transport options,  and members-only "Scapia Unmapped"  experiences. It also offers financing options like “Travel Now, Pay Later,” in addition to 24/7 customer support.

RuPay card in partnership with Federal Bank

Recently, Scapia launched a RuPay variant of its co-branded card with Federal Bank to capture UPI-based spends and broaden its reach across India’s digital payments ecosystem

Vikram Vaidyanathan, Managing Director at Z47, described the startup as “transforming how the next generation of Indians travel and spend on experiences,” citing innovations such as airport privileges and a seamless booking-to-reward journey. 

"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,” said Mridul Arora, Partner, Elevation Capital