How Did Scapia’s Latest Funding Round Reshape Its Cap Table?
Travel fintech startup Scapia has secured $63 million (around Rs 598 crore) in its Series C funding round, pushing its valuation to approximately $539 million and marking a more than threefold jump from its previous funding round.
The round was led by General Catalyst, with participation from existing investors Peak XV Partners and Z47. The latest investment highlights growing investor confidence in Scapia’s efforts to evolve from a credit card-focused fintech into a broader travel ecosystem.
According to regulatory filings reviewed by media reports, Scapia allotted 34,744 Series C preference shares at an issue price of Rs 1,72,128 per share to raise the fresh capital.
How Much Did Each Investor Contribute?
General Catalyst emerged as the largest investor in the round, investing approximately Rs 474 crore ($50 million). Existing investor Peak XV Partners contributed around Rs 76 crore ($8 million), while Z47 invested Rs 46.6 crore ($5 million). Angel investor Arjun Chowdhary also participated in the funding round.
Following the transaction, General Catalyst secured a 9.26% stake in Scapia, becoming one of the company’s largest shareholders.
The investment significantly boosted Scapia’s post-money valuation to Rs 5,122 crore ($539 million), compared to Rs 1,645 crore during its $40 million Series B round raised in April last year.
Where Will Scapia Deploy The Fresh Capital?
The Bengaluru-based company plans to use a substantial portion of the newly raised funds to build what it describes as an AI-native organization.
Scapia intends to strengthen its engineering, product, design, and data science teams while investing heavily in artificial intelligence capabilities that can enhance customer experiences and operational efficiency.
The company believes AI will play a crucial role in creating more personalized travel experiences, improving financial services offerings, and streamlining customer engagement across its platform.
ESOP Pool Expanded To Reward Talent
Alongside the funding round, Scapia also expanded its employee stock ownership plan (ESOP) pool by adding 4,731 new stock options.
Based on the company’s latest valuation, the newly added options are worth approximately Rs 81.4 crore. This expansion takes the total value of Scapia’s ESOP pool to nearly Rs 432.5 crore ($45.5 million).
The move underscores the startup’s focus on attracting and retaining top talent as it scales operations and expands its product ecosystem.
Who Owns Scapia After The Series C Round?
Following the latest allotment, Z47 emerged as the largest external shareholder with a 15.47% stake, followed by Peak XV Partners at 12.97%.
Elevation Capital continues to hold around 10% of the company, while General Catalyst now owns 9.26%.
Founder Anil Goteti remains the largest shareholder overall, retaining a 33.6% stake in the business.
How Is Scapia Expanding Beyond Credit Cards?
Founded in 2022 by Anil Goteti, Scapia initially gained traction through co-branded travel credit cards offered in partnership with Federal Bank and Bank of Baroda.
Since then, the company has expanded into a broader travel ecosystem that includes Scapia Pay, add-on cards, BBPS-powered bill payments, the Scapia Store, and curated travel experiences.
The strategy is aimed at increasing customer engagement while building multiple revenue streams beyond traditional card-based offerings.
How Is The Business Performing?
Scapia’s operating revenue rose to Rs 29 crore in FY25 from Rs 17 crore in FY24, reflecting growing adoption of its products and services.
The company also improved its financial performance during the year, with net losses narrowing to Rs 83 crore from Rs 88 crore in the previous fiscal.
With total funding now reaching approximately $135 million, Scapia is positioning itself as one of India’s fastest-growing travel fintech startups, betting on AI, payments, and travel experiences to drive its next phase of growth.
