Scapia, 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.
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 in April 2025. The four-year-old outfit has raised $126 million to date from investors.
That General Catalyst, one of the most prominent U.S. venture firms, is leading the round suggests that India’s travel-focused fintech market is drawing serious attention well beyond its home region.
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 by Tracxn. By contrast, the U.S. saw fintech funding grow sharply, driven by large rounds for a handful of companies in areas including AI and crypto infrastructure.
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’s app combines co-branded credit cards, UPI-based payments, travel bookings, and commerce in one place. UPI — India’s government-backed real-time payments network and one of the most widely used digital payment systems in the world — is central to how younger Indians move money today.
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.
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 th …