General Catalyst leads $63 million round for Indian travel fintech Scapia
Founded by former Flipkart executive Anil Goteti, Scapia combines travel booking with co-branded credit cards and UPI payments, targeting younger consumers seeking integrated rewards.
General Catalyst has led a $63 million equity investment in Scapia, an Indian startup that merges travel booking with co-branded credit cards and mobile payments. The all-equity round, which also saw participation from existing investors Peak XV Partners and Z47, values the Bengaluru-based company at more than $500 million. This figure represents a significant increase from its previous valuation of approximately $200 million recorded in April 2025.
Founded in 2022 by former Flipkart executive Anil Goteti, Scapia has now raised a total of $126 million. The fresh capital will be deployed to expand product offerings and hire AI-focused engineering and product talent as competition intensifies in India’s consumer fintech sector. The company currently employs around 250 people.
The investment arrives against a backdrop of heightened selectivity in global fintech funding. According to a report by Tracxn, India’s fintech funding remained largely flat in the first quarter of 2026, with the number of deals falling by more than half compared to the previous year. Investors are concentrating capital into fewer, larger transactions, a trend that contrasts with sharp growth in U.S. fintech funding driven by AI and crypto infrastructure deals.
Scapia has reported substantial growth in its core metrics, driven by demand from younger Indian consumers for integrated payment and travel rewards. The startup stated that flight bookings on its platform grew nearly six times year-on-year, while hotel bookings increased about eightfold. Customer growth also rose sevenfold during the same period, although absolute user figures were not disclosed.
Goteti noted that one-third of users now prefer airport dining and shopping rewards over traditional lounge access, citing crowding at lounges as a key driver. To support this demand, Scapia operates a dual-network co-branded credit card using both Visa and RuPay, partnered with Federal Bank and BOBCARD. The platform allows users to access card payments and UPI-linked credit through a single statement and repayment flow.
The company competes with firms such as Niyo, Ixigo, and global players like Revolut in the travel-focused financial products market. UPI, India’s government-backed real-time payments network, remains central to the digital payment habits of younger Indians, forming a critical component of Scapia’s value proposition.
