Scapiaan Indian startup that combines travel booking with co-branded credit cards and mobile payments, has raised $63 million in a funding round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47. The deal comes despite a broader slowdown in fintech deal-making.
The funding round values give the startup a post-monetary valuation of more than $500 million, according to a source familiar with the matter, or more than double its valuation of approximately $200 million in April 2025. The four-year-old company has raised $126 million from investors to date.
The fact that General Catalyst, one of the most prominent US venture capital firms, is leading the round suggests that India’s travel-focused fintech market is attracting serious attention well beyond its home region.
The funding comes as investors around the world become more selective in their fintech bets after years of aggressive funding. In India, fintech funding remained largely stable in the first quarter of 2026, while the number of deals more than halved from the previous year as investors concentrated their capital in fewer, larger deals, per year. recent report by Tracxn. In contrast, the United States has seen fintech funding increase sharply, driven by large circles for a handful of companies in areas such as AI and crypto infrastructure.
Investors are betting that Scapia can benefit from growing demand among young Indians for apps that combine payments and travel bookings. Founded in 2022 by former Flipkart executive Anil Goteti, the startup’s app combines co-branded credit cards, UPI-based payments, travel bookings and commerce in one place. UPI – India’s government-backed real-time payments network and one of the world’s most widely used digital payment systems – is at the heart of how young Indians move money today.
Over the past year, Scapia said flight bookings on its platform had increased six-fold, while hotel bookings had increased eight-fold, with smaller Indian cities generating a growing share of demand. Customer growth also increased sevenfold during the same period, the startup said, without disclosing absolute numbers.
Scapia has been heavily adopted by younger travelers who increasingly want flexible travel rewards and integrated payment options instead of the traditional perks of credit cards, Goteti said in an interview. He added that a third of users now prefer rewards for airport dining and purchases over lounge access.
“Trade shows are getting more and more crowded,” Goteti told TechCrunch. “People are actually looking for an experience outside of the salon.”
Scapia also offers a dual-network co-branded credit card using both Visa and RuPay – a government-backed Indian payments network – allowing users to access card payments and UPI-linked credit through a single statement, credit line and repayment flow. Additionally, the startup is partnering with Federal Bank and BOBCARD to offer co-branded cards and plans to add another banking partner in the coming months, Goteti said.
The Bangalore-based startup operates in a growing market for travel-focused financial products in India, competing with companies like Niyo – another Indian startup that combines banking and travel features – and travel platform Ixigo, while global fintech companies including Revolution are also look at the country.
Scapia, which has about 250 employees, said the new funding would be used to expand its product offerings and hire more engineering and AI-focused product talent as competition heats up in India’s consumer fintech market.
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Jagmeet covers startups, technology policy updates and all other major technology developments in India for TechCrunch. He previously worked as a senior correspondent at NDTV.
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