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Scapia<\/a>, an 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 existing investors Peak XV Partners and Z47 also participating. The deal comes despite a broader slowdown in fintech dealmaking.<\/p>\n The all-equity round values assigns the startup a post-money valuation of more than $500 million, according to a source familiar with the matter, more than doubling its valuation from around $200 million<\/a> in April 2025. The four-year-old outfit has raised $126 million to date from investors.<\/p>\n That General Catalyst, one of the most prominent U.S. venture firms, is leading the round suggests that India\u2019s travel-focused fintech market is drawing serious attention well beyond its home region.<\/p>\n The funding comes as investors globally grow more selective in fintech bets after years of aggressive funding. In India, fintech funding remained largely flat in Q1 2026, while the number of deals fell by more than half from a year earlier as investors concentrated capital into fewer, larger deals, per a recent report<\/a> by Tracxn. By contrast, the U.S. saw fintech funding grow sharply, driven by large rounds<\/a> for a handful of companies in areas including AI and crypto infrastructure.<\/p>\n Investors are betting Scapia can benefit from growing demand among younger Indians for apps that combine payments and travel bookings. Founded in 2022 by former Flipkart executive Anil Goteti, the startup\u2019s app combines co-branded credit cards, UPI-based payments, travel bookings, and commerce in one place. UPI \u2014 India\u2019s government-backed real-time payments network and one of the most widely used digital payment systems in the world \u2014 is central to how younger Indians move money today.<\/p>\n Over the past year, Scapia said flight bookings on its platform grew nearly six times, while hotel bookings increased about eightfold, with smaller Indian cities driving a growing share of demand. Customer growth also rose sevenfold during the same period, the startup said, without disclosing absolute figures.<\/p>\n Scapia has seen strong adoption among younger travelers who increasingly want flexible travel rewards and integrated payment options instead of traditional credit card perks, Goteti said in an interview. He added that one-third of users now prefer airport dining and shopping rewards over lounge access.<\/p>\n \u201cLounges are getting quite crowded,\u201d Goteti told TechCrunch. \u201cPeople actually are looking for an experience outside the lounge.\u201d<\/p>\n Scapia also offers a dual-network co-branded credit card using both Visa and RuPay \u2014 a government-backed Indian payment network \u2014 allowing users to access card payments and UPI-linked credit through a single statement, credit line, and repayment flow. Moreover, the startup partners with Federal Bank and BOBCARD to offer co-branded cards and plans to add another banking partner in the coming months, Goteti said.<\/p>\n The Bengaluru-based startup operates in a growing market for travel-focused financial products in India, competing with companies like Niyo \u2014 another Indian startup that combines banking and travel features \u2014 and travel platform Ixigo, while global fintech firms including Revolut<\/a> are also eyeing the country<\/a>.<\/p>\n Scapia, which has about 250 employees, said the fresh funding will go toward expanding its product offerings and hiring more AI-focused engineering and product talent as competition intensifies in India\u2019s consumer fintech market.<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n