Quick Take
- Scapia raises $63 Mn led by General Catalyst, with Peak XV and Z47 joining.
- The all-equity round doubles Scapia’s valuation from $200 Mn to over $500 Mn.
- Funds will go into product expansion and AI engineering hiring, with another bank partner coming.
Scapia Raises $63 Mn (Rs 525 Cr) in an all-equity round led by General Catalyst, with existing investors Peak XV Partners and Z47 also putting in fresh capital.
The deal values the Bengaluru-based travel fintech at over $500 Mn (Rs 4,150 Cr) post-money, more than doubling its $200 Mn (Rs 1,660 Cr) valuation from April 2025. Total capital raised by the four-year-old startup now stands at $126 Mn (Rs 1,050 Cr).
StartupFeed Insight
The signal here is the lead, not the cheque size. General Catalyst, which makes one or two India bets a year, choosing Scapia at over $500 Mn says travel-payments bundling is now a real venture thesis. Niyo, Jupiter, and Uni Cards should watch closely. So should MakeMyTrip and Ixigo, since the squeeze now comes from the payments side, not just travel discovery. The next 12 months will test whether Scapia’s 7x customer growth turns into healthy revenue per card. Expect a third banking partner by Q2 FY27 and a profitability roadmap to anchor the next raise, StartupFeed Desk.
Scapia Raises $63 Mn: What Changes for Users and Rivals
Scapia plans to use the fresh money to expand its product suite and hire more AI-focused engineering and product talent. Founder and CEO Anil Goteti told TechCrunch that the company is also adding another banking partner in the coming months. Today, Scapia issues co-branded cards through Federal Bank and BOBCARD (the credit card arm of Bank of Baroda).
Over the past year, flight bookings on the Scapia app grew almost 6x and hotel bookings rose roughly 8x. Customer growth was 7x in the same period. Demand from tier-2 and tier-3 cities is rising faster than from metros.
Deal Breakdown
| Metric | Detail | Notes |
|---|---|---|
| Total Raise | $63 Mn (Rs 525 Cr) | All-equity round |
| Lead Investor | General Catalyst | First major India fintech bet of 2026 |
| Participating Investors | Peak XV Partners, Z47 | Both existing backers |
| Post-Money Valuation | Over $500 Mn (Rs 4,150 Cr) | Up from $200 Mn in April 2025 |
| Previous Round | $40 Mn Series B, April 2025 | Led by Peak XV at Rs 1,645 Cr valuation |
| Cumulative Raised | $126 Mn (Rs 1,050 Cr) | Across seed, Series A, Series B, and current round |
| Announcement Date | May 21, 2026 | Reported by TechCrunch |
The most telling number is the valuation multiple. Scapia’s worth jumped 2.5x in 13 months, even as India’s fintech deal count fell by more than half in Q1 2026 per Tracxn.
About Scapia
Scapia is a Bengaluru-based travel fintech founded in 2022 by Anil Goteti, a former Senior Vice President at Flipkart. The company offers co-branded credit cards (with Federal Bank and BOBCARD), UPI-linked credit (Unified Payments Interface, India’s real-time payments network), and an in-app travel booking platform for flights, hotels, and visas. It has about 250 employees. Top investors include General Catalyst, Peak XV Partners, Z47, and Elevation Capital.
Why did General Catalyst back Scapia?
General Catalyst is selective about India. Its decision to lead at over $500 Mn signals confidence in two structural shifts: Gen Z and millennials now drive 50% of new credit card issuances in India, and travel spending is rising faster than overall discretionary spending in tier-2 cities.
“Lounges are getting quite crowded. People actually are looking for an experience outside the lounge.”
Anil Goteti, Founder and CEO of Scapia. The company says one-third of users now prefer airport dining and shopping rewards over lounge access. That insight is shaping the next version of the product.
How does Scapia compare to competitors?
| Company | Core Pitch | Last Known Valuation |
|---|---|---|
| Scapia | Travel + co-branded card + UPI | Over $500 Mn (May 2026) |
| Niyo | Banking + travel features | Roughly $500 Mn (2022 round) |
| Ixigo | Pure-play travel booking, listed on BSE/NSE | Public market cap, around $1.2 Bn |
Global threat is real too. Revolut, last valued at $75 Bn, is preparing an India launch and has flagged travel-friendly forex as a wedge. Scapia’s edge is the bundled card-plus-UPI-plus-booking flow inside one app, which neither Niyo nor Ixigo offers end-to-end today.
What’s Next
Watch for three things by Q2 FY27. One, a third banking partner announcement that broadens Scapia’s reach beyond Federal Bank and BOBCARD. Two, the first hard disclosure of monthly card spend and active users. Three, an FY26 revenue print that justifies the $500 Mn valuation. Will Scapia stay focused on cards or move into wider travel financing?
Frequently Asked Questions
How much did Scapia raise in May 2026 and from whom?
Scapia raised $63 Mn (Rs 525 Cr) in an all-equity round led by General Catalyst. Existing investors Peak XV Partners and Z47 also joined. The round values the Bengaluru-based travel fintech at over $500 Mn post-money, more than double its April 2025 valuation.
What does Scapia do?
Scapia is a travel fintech founded in 2022 by former Flipkart SVP Anil Goteti. It offers co-branded credit cards with Federal Bank and BOBCARD, UPI-linked credit, and an in-app booking platform for flights, hotels, and visas. The app targets Gen Z and millennial travelers across India.
How will Scapia use the $63 Mn funding?
Scapia plans to spend the fresh capital on product expansion and on hiring AI-focused engineering and product talent. The company is also adding a third banking partner in the coming months to widen card distribution and improve credit underwriting across more user segments.
