Bangalore, April 3, 2025: Scapia, a leading travel fintech company, today announced that it has secured $40 million in Series B funding led by Peak XV Partners, with participation from existing investors, Elevation Capital, Z47, and 3STATE Capital. The funding will enable Scapia to strengthen its team, enhance its product offerings, harness the power of AI and accelerate its ambitious growth plans. Scapia's $40 million Series B fundraise demonstrates overwhelming demand for its co-branded credit card, driven by surging consumer appetite for travel and a product specifically designed to meet Gen Z 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 travellers faster than ever before," said Anil Goteti, Founder & CEO of Scapia.

"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. We are thrilled to partner with Anil and the team as they build an experience-led consumer internet company for the next decade," said Tejeshwi Sharma, MD, Peak XV.

"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.

“Scapia is transforming how the next generation of Indians travel and spend on experiences. Anil and team have crafted delightful user journeys through industry-first innovations like Airport Privileges, while providing a full-service travel platform that includes buses and trains. 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.

Scapia's co-branded card, developed in partnership with Federal Bank, delivers exceptional value with zero joining and annual fees, no forex markup, and complimentary unlimited domestic lounge access and airport privileges based on qualifying monthly spend. Cardholders enjoy 10% rewards on all transactions, with an enhanced 20% rewards on all travel bookings made through Scapia.

The 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. The app also stands out with competitive pricing, customer-friendly cancellation and rescheduling policies, flexible payment options (including “Travel Now, Pay Later” plans), and dedicated 24/7 customer support for a truly frictionless experience.

Over the past year, Scapia’s customers have used its co-branded credit card to travel to over 100 countries worldwide. Building on this momentum, the company also recently 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. With a strong foundation and a bold vision, Scapia is poised to redefine travel and financial experiences for customers nationwide—delivering seamless, rewarding journeys for the modern Indian traveller.