Scapia, the travel-focused credit card startup founded by Flipkart’s former senior vice president Anil Goteti, has secured $40 million in a Series B funding round. Peak XV Partners led the round, while existing investors Elevation Capital, Z47, and 3STATE Capital reaffirmed their confidence in the company by participating again. Scapia announced the funding on April 3, nearly three months after Moneycontrol first broke the news of the company’s fundraising plans on January 13.
Since its launch in June 2023, Scapia has positioned itself as a disruptor in India’s credit card and travel fintech landscape. The Bengaluru-based startup provides a co-branded credit card and mobile application that transforms routine purchases into meaningful travel rewards. The latest infusion of capital will help Scapia scale its operations, hire top-tier talent, build AI capabilities, and enhance its user experience.
Aiming High with AI and Product Innovation
Anil Goteti, the founder and CEO of Scapia, outlined the company’s growth strategy in a conversation with Moneycontrol. He emphasized that Scapia plans to double down on product development and AI integration. “We are going to invest a lot in product development. We are going to invest a lot in AI as well,” Goteti said. “A lot of companies are experimenting and exploring with AI. We have a bunch of ideas that we are going to try out as well and see how that plays out for customers.”
Goteti believes that artificial intelligence can revolutionize how users interact with financial products, especially in a travel-centric context. He plans to embed AI in key areas such as personal financial insights, smarter reward tracking, travel recommendation engines, and risk management systems.
Scapia doesn’t just intend to use AI as a buzzword. Goteti wants to deliver real, tangible value to customers through seamless technology. By customizing the user journey, predicting travel habits, and automating reward optimization, Scapia aims to redefine what consumers expect from a travel rewards card.
Talent Acquisition and Strategic M&A on the Radar
Goteti remains focused on building a high-caliber team capable of driving innovation and rapid scale. The company will use part of the funding to expand its workforce across engineering, product, marketing, and operations.
He also remains open to mergers and acquisitions. “I am actually quite open to good acquisitions and teams that have really good talent or ideas but they are looking for a distribution muscle like ours or a home where they can actually take their ideas to a larger audience,” Goteti explained.
This approach signals that Scapia is not just building in-house but also scouting for synergistic partnerships. Whether through acqui-hires or strategic purchases, Goteti wants to infuse fresh energy and vision into the company’s mission.
The Scapia Product: Travel Made Rewarding
Scapia has already created a niche for itself with its co-branded credit card, which charges zero joining and annual fees. It offers a zero forex markup and unlimited domestic lounge access to users, provided they meet a minimum monthly spending requirement.
The credit card stands apart by converting daily transactions into Scapia Coins. Users can redeem these coins directly through the Scapia app for flight and hotel bookings. This seamless redemption process eliminates the need for complicated point conversions and blackout dates.
The mobile app, sleek and intuitive, lets users track rewards, plan trips, and book travel without juggling multiple platforms. Scapia ensures that each transaction, no matter how small, contributes meaningfully toward a user’s next adventure.
Rapid Growth Since Launch
Scapia launched in June 2023 and has since seen a steady rise in adoption. Its strategic appeal lies in simplifying travel rewards without diluting the perks. Customers no longer need to choose between a lifestyle card and a travel card—Scapia delivers both.
By removing common friction points like annual charges, foreign currency markups, and inaccessible reward systems, Scapia has drawn a loyal base of young professionals, frequent travelers, and digital-savvy consumers.
While the company hasn’t disclosed the exact number of cardholders or revenue figures, investor confidence in the startup reflects solid traction and future potential. The participation of well-known firms like Peak XV Partners and Elevation Capital in multiple rounds signals long-term trust in Scapia’s business model and leadership.
Investors Bet on Vision and Execution
Peak XV Partners, the lead investor in this Series B round, praised Scapia’s unique approach to combining travel with fintech. Their involvement signifies a strong vote of confidence in Goteti’s vision and execution.
Elevation Capital, one of the earliest backers, continues to support Scapia’s journey. Z47 and 3STATE Capital also joined in, bringing strategic expertise and additional growth capital to the table. This blend of new and returning investors creates a solid foundation for Scapia’s next phase of growth.
Scapia’s Vision: Travel for the Everyday User
Goteti created Scapia with the idea that travel rewards shouldn’t remain exclusive to high spenders or premium cardholders. He wanted to democratize travel benefits by tying them to everyday expenses. Whether users shop for groceries, pay utility bills, or dine out, every transaction brings them closer to their next trip.
Scapia aims to build a financial ecosystem that encourages responsible spending while making travel more accessible. The brand doesn’t just market itself as a card provider—it presents itself as a travel companion.
This customer-first philosophy guides every product feature, from zero forex markup to AI-powered travel suggestions. Scapia positions itself as an enabler of experiences, not just transactions.
The Road Ahead: Expansion, Innovation, and Impact
With $40 million in fresh capital, Scapia plans to scale fast but smart. The startup will enhance its tech stack, improve app performance, deepen partner integrations, and launch new features to enrich the customer experience.
AI will play a key role in driving efficiency and personalization. Expect Scapia to roll out features like predictive trip planning, personalized travel deals, and proactive customer support—all powered by machine learning.
The company will also grow its presence across Tier 1 and Tier 2 cities, targeting both seasoned travelers and aspirational users. Scapia plans to host educational content, reward-based campaigns, and brand collaborations to build awareness and boost user engagement.
Final Thoughts
Scapia’s $40 million Series B round marks a pivotal milestone in its journey. Under Anil Goteti’s leadership, the startup has emerged as a strong player in the travel fintech space within less than a year. With a clear focus on AI, product innovation, and customer-centric solutions, Scapia now gears up for aggressive expansion.
Backed by top-tier investors and led by a founder with deep expertise in scaling digital businesses, Scapia doesn’t just aim to survive in the crowded credit card market—it wants to lead a travel rewards revolution in India.