Scapia Secures $40 Million from Peak XV and Others to Enhance Travel Offerings
Scapia received $40 million (approximately INR 342 crore) in Series B funding that Peak XV Partners led as the primary investor alongside existing contributors Elevation Capital, Z47, and 3STATE Capital from Binny Bansal.
The recently acquired capital will help the company develop new products alongside team expansion and artificial intelligence implementation to drive its business expansion. Anil Goleti established Scapia during 2022 following his Flipkart senior vice president position. Together with Federal Bank, Scapia develops co-branded credit cards to serve the traveling needs of millennial and Gen Z consumers. The Visa based co-branded card grants members the benefit of zero markup charges alongside unlimited lounge access throughout the domestic territory.
To enhance its service Scapia built a travel application through which customers can book travel services including flights and hotels and nationwide transportation.
The travel industry growth in India accelerates rapidly due to young generation customers who use travel as a guilt free pleasure seeking activity. Peak XV managing director Tejeshwi Sharma declared that Scapia drives market evolution through its strategic merger of travel market potential and unused credit card market potential to deliver specific enjoyable services for this market segment.
The startup received this funding The startup received this funding one year after its Series A round which was co-led by Elevation Capital and 3STATE Ventures where it obtained $23 million (around INR 197 crore) and accumulated $32 million at that time.
The recently acquired capital will help the company develop new products alongside team expansion and artificial intelligence implementation to drive its business expansion. Anil Goleti established Scapia during 2022 following his Flipkart senior vice president position. Together with Federal Bank, Scapia develops co-branded credit cards to serve the traveling needs of millennial and Gen Z consumers. The Visa based co-branded card grants members the benefit of zero markup charges alongside unlimited lounge access throughout the domestic territory.
To enhance its service Scapia built a travel application through which customers can book travel services including flights and hotels and nationwide transportation.
The travel industry growth in India accelerates rapidly due to young generation customers who use travel as a guilt free pleasure seeking activity. Peak XV managing director Tejeshwi Sharma declared that Scapia drives market evolution through its strategic merger of travel market potential and unused credit card market potential to deliver specific enjoyable services for this market segment.
The startup received this funding The startup received this funding one year after its Series A round which was co-led by Elevation Capital and 3STATE Ventures where it obtained $23 million (around INR 197 crore) and accumulated $32 million at that time.
