A $63 Million Bet on the Future of Indian Travel Payments
Scapia, a four-year-old Indian startup blending travel booking with co-branded credit cards and mobile payments, just secured $63 million in a funding round led by General Catalyst. Existing backers Peak XV Partners and Z47 also joined in. The deal stands out in a period when fintech investment has cooled off globally.
This all-equity round values Scapia at over $500 million post-money, more than double its $200 million valuation from April 2025. The company has now raised $126 million total. General Catalyst, a top U.S. venture firm, leading the charge signals that India’s travel-focused fintech space is catching international eyes.
Investors are getting pickier after years of heavy fintech spending. In India, fintech funding stayed flat in early 2026, with deal counts dropping by more than half year-over-year as money concentrated into fewer, larger bets. Meanwhile, U.S. fintech funding surged, driven by big rounds in AI and crypto.
Scapia is betting on younger Indians who want one app for payments and travel. Founded in 2022 by ex-Flipkart executive Anil Goteti, it combines co-branded credit cards, UPI payments, flight and hotel bookings, and shopping. UPI, India’s real-time government-backed payment network, is key to how many young people manage money.
Over the past year, flight bookings on Scapia grew nearly six times, and hotel bookings jumped eightfold, with demand rising fast in smaller cities. Customer numbers increased sevenfold. Goteti says one-third of users now prefer airport dining and shopping rewards over lounge access. “Lounges are getting quite crowded,” he noted. “People want an experience outside the lounge.”
Scapia offers a dual-network credit card using Visa and RuPay, letting users access card payments and UPI credit on one statement. It partners with Federal Bank and BOBCARD, with another bank coming soon. The Bengaluru-based startup, with 250 employees, competes with Niyo and Ixigo, while global players like Revolut eye the market. Fresh funding will go toward expanding products and hiring AI engineering talent.