Scapia Raises $40M in Series B Funding Led by Peak XV Partners According to the company, the fundraise showcases an increasing demand for its credit card, driven by rising consumer appetite for travel and a product-fit designed to cater GenZ and millennial needs.
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Scapia, a travel fintech company announced a USD 40 million Series B funding led by Peak XV partners, alongside Elevation Capital, Z47, 3STATE Capital and other existing investors.
Scapia said that the funding will enable it to strengthen its team, enhance product offerings, leverage AI, and accelerate its growth plans. According to the company, the fundraise showcases an increasing demand for its credit card, driven by rising consumer appetite for travel and a product-fit designed to cater GenZ 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 travelers faster than ever before," said Anil Goteti, Founder and CEO of Scapia.
Scapia's co-branded card, developed in partnership with Federal Bank, is aimed at delivering value with zero joining and annual fees, no forex markup, and complementary unlimited domestic access and other airport privileges based on the user's monthly spend.
"Millennials and Gen Z are turning travel into a guilt-free, all-pleasure experience, which is setting the stage for rapid growth in the travel industry in India. Scapia is uniquely positioned to fuel this revolution by merging a booming travel market with an untapped credit card market to offer a unique and delightful experience to this customer base," said Tejeshwi Sharma, MD of Peak XV.
"The travel fintech space represents a significant opportunity, especially considering that Gen Z and millennials now account for 50 per cent of all credit card issuance in India—pointing to a rapidly growing, digital-first consumer base that will fuel an USD 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 and annual fees, no forex markup, and meaningful rewards that enhance the travel experience," said Mridul Arora, Partner, Elevation Capital.
Scapia's app also enables booking and rewards redemption across global airlines, over 500,000 hotel properties, visas for 45 countries, domestic transport options, and members-only "Scapia Unmapped" experiences.
"Scapia is transforming how the next generation of Indians travel and spend on experiences. Throughout this journey, they have also built a highly compliant fintech model with the Scapia co-branded credit card. We are privileged to be their earliest backers and are delighted to double down on our investment here. We welcome Peak XV to the partnership and look forward to Scapia's continued scaling journey," said Vikram Vaidyanathan, Investor & MD, Z47.
According to Scapia's data, over the past year, its customers have used its credit card to travel to over 100 countries worldwide. The company has also launched a RuPay card with Federal Bank to capture UPI-based spending and broaden its reach within the country's digital payments sector.
