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- Scapia
Scapia Revenue, Valuation, Funding & Investors
Scapia is valued at $500M as of May 2026.
Last Scapia valuation
$500M
Series C · May 2026
Last Scapia funding round
$63M
Series C · May 2026
Scapia revenue
$3M
Series B · Apr 2025
Key investors in Scapia
Z47
3STATE Ventures
Peak XV Partners
Elevation Capital
Tanglin Venture Partners
General Catalyst
About Scapia
Scapia is a Mumbai-based fintech platform issuing no-foreign-transaction-fee credit cards tailored for travel spending. The app tracks expenditures, awards redeemable coins on purchases, and facilitates direct bookings for flights and hotels. Launched in 2023, Scapia integrates payments and rewards into a single interface for Indian users planning international trips.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Usage-based, Subscription
Revenue
$3M (Apr 2025)
Valuation
$500M (May 2026)
Scapia Valuation
Scapia is currently valued at $500M, based on its Series C in May 2026.
The $63M round was led by General Catalyst, with participation from Z47 and Peak XV Partners.
Scapia's valuation has grown 2.6x from $194M at its Series B in April 2025 to $500M in May 2026, across 2 priced rounds.
Scapia valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2026 | Series C | $500M | - |
| Apr 2025 | Series B | $194M | 64.7x |
Scapia Revenue
Scapia's latest recorded revenue is $3M, as of its Series B in April 2025. At a $194M valuation, that implies a 64.7x revenue multiple.
Scapia revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2025 | $3M | $194M | 64.7x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Scapia Funding History
Scapia has raised a total of $135M across 4 funding rounds.
Scapia's first fundraising round was a $9M seed round in June 2023. The most recent completed round was a $63M Series C in May 2026.
Scapia funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2026 | Series C | General Catalyst (lead); Z47; Peak XV Partners | $63M | $500M | General Catalyst led a $63 million all-equity funding round for Scapia in May 2026, with continued participation from Peak XV Partners and Z47. The round valued Scapia at more than $500 million post-money, according to reporting on the transaction. The capital is intended to support Scapia’s next phase of growth, including expansion of its AI-first travel-fintech platform across India and continued product development. The company’s offering combines travel booking with co-branded credit cards, UPI payments, airport benefits, and commerce features, positioning it as a full-stack travel-fintech platform. Scapia is a Bengaluru-based, four-year-old company founded by Anil Goteti. The company had previously raised $40 million in a Series B round led by Peak XV Partners, and reports indicate it had raised $126 million in total to date before this financing. No revenue or EBITDA figures were disclosed. |
| Apr 2025 | Series B | Peak XV Partners (lead); Elevation Capital; 3STATE Ventures; Z47 | $40M | $194M | Scapia is a Bangalore-based travel fintech company offering a co-branded credit card with Federal Bank, featuring zero forex markup, zero joining and annual fees, and rewards tailored for Gen Z and Millennials in India. It provides a full-service travel platform including flights, buses, trains, and innovations like Airport Privileges. Founded in 2022 by former Flipkart executive Anil Goteti, Scapia raised $40 million in Series B funding on April 3, 2025, led by Peak XV Partners with participation from Elevation Capital, Z47, and 3STATE Capital. The funds are allocated to accelerate product development in travel and financial services, integrate AI, expand the team, and support growth plans following resumption of its co-branded card issuance after a regulatory pause. In FY25 (ending March 2025), Scapia reported operating revenue of INR 28.7 crore, up 71% from INR 16.8 crore in FY24, with total income reaching INR 40.4 crore including other income of INR 11.6 crore. Despite revenue growth, net loss narrowed modestly by 6% to INR 83 crore from INR 87.9 crore, as total expenditure rose 10% to INR 123.4 crore. Prior raises included $9 million seed in June 2023 led by Matrix Partners and $23 million Series A in November 2023 led by Elevation Capital and 3STATE Ventures, bringing total funding to about $72 million by early 2025. Post-Series B, Scapia entered early discussions in late 2025 for a potential $50-60 million round led by General Catalyst, with Lightspeed possibly participating, to further expand co-branded credit card offerings and travel bookings amid competitive dynamics in India's travel fintech sector. |
| Nov 2023 | Series A | 3STATE Ventures (lead); Elevation Capital (lead); Z47; Tanglin Venture Partners | $23M | - | Scapia is an India-based travel fintech startup founded in January 2022 by former Flipkart senior executive Anil Goteti, offering co-branded credit cards in partnership with Federal Bank and an app for travel bookings including flights, hotels, visas for 45 countries, and domestic transport. The cards feature zero joining and annual fees, 10% rewards convertible to Scapia coins for redemptions, complimentary lounge access, and support for transactions in 50 countries across five continents. In November 2023, Scapia raised $23 million (INR 1,900,000,000) in a Series A funding round led by Elevation Capital and 3STATE Ventures (Binny Bansal's firm), with participation from existing investors Matrix Partners India and Tanglin Venture Partners. This followed a June 2023 seed round of approximately $9 million led by Z47. The funds were intended to expand the customer base—already covering over 7,500 pin codes within five months of launch—add more banking partners, and enhance product offerings. Subsequent developments include a $40 million Series B in April 2025 led by Peak XV Partners with participation from Elevation Capital, Z47, and 3STATE Capital to scale operations, leverage AI, and grow internationally, bringing total funding to $72 million. In 2025, Scapia was in early talks for $50-60 million led by General Catalyst, amid reported 70% YoY revenue growth to $4.36 million, though specifics were not tied to the 2023 round. Scapia reported strong early traction with its credit card and app targeting Gen Z and Millennials, later expanding with a RuPay variant for UPI spends. The company operates in a competitive landscape with players like Uni Cards, Niyo, and Jupiter offering credit and lifestyle financial services. |
| Jun 2023 | Seed | Z47 (lead); 3STATE Ventures; Keki M Mistry; Tanglin Venture Partners | $9M | - | Scapia is a travel fintech company founded in 2022 by Anil Goteti, a former Flipkart senior executive. The company offers co-branded credit cards with Federal Bank featuring benefits such as zero joining fees, zero annual fees, complimentary lounge access, and zero foreign currency markup on international transactions, alongside a full-service travel booking platform. In June 2023, Scapia raised $9 million in its seed round led by Z47 (then known as Matrix Partners India), with participation from Tanglin Venture Partners, 3STATE Ventures (Binny Bansal's fund), and angel investors including Keki Mistry, CEO of HDFC Ltd. The company had been operating in stealth for approximately one year before this announcement. The capital was earmarked to scale operations and invest in technological capabilities. By the time of its Series B round in April 2025, Scapia had accumulated over $72 million in total funding and achieved a post-money valuation of approximately $194 million, demonstrating significant growth trajectory since the 2023 seed investment. |
Who has invested in Scapia?
7 investors have backed Scapia across its funding rounds, including Z47, 3STATE Ventures, Peak XV Partners, Elevation Capital, Tanglin Venture Partners and General Catalyst.
Lead investors include General Catalyst, Peak XV Partners, 3STATE Ventures, Elevation Capital and Z47.
Scapia Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2023 | ||
| 3 | Lead | Jun 2023 | ||
| 2 | Lead | Nov 2023 | ||
| 2 | Participant | Jun 2023 | ||
| 2 | Lead | Apr 2025 | ||
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Start Free TrialScapia Competitors
Scapia competitors include listed companies like Agilysys and Shiji Group, and private ones like Lunchbox Technologies, Deliverect, StoreHub and Perk.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $15M | - | $275M | 18.3x | ||
| Private | - | - | $1.4B | - | ||
| Private | - | - | $138M | - | ||
| Private | $300M | - | $2.7B | 9.0x | ||
| Publicly listed | $319M | $57M | $2.9B | 8.1x | ||
| Publicly listed | $416M | $21M | $3.1B | 6.2x |
Scapia Public Comps
Scapia is still privately-owned, but its public comps include Kambi Group, Rank Group, Gloo, SiteMinder, Vista Group, PhilWeb, Pollard Banknote, Ainsworth Game Technology, MetropolCard and Groupon.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $187M | $55M | 2.5x | 2.3x | 8.4x | 7.1x | |||
| $1.1B | $156M | 0.7x | 0.7x | 4.8x | 4.1x | |||
| $95M | ($136M) | 5.0x | 3.0x | (3.5x) | (11.4x) | |||
| $189M | $17M | 2.9x | 2.7x | 31.1x | 22.9x | |||
| $94M | $5M | 4.2x | 3.8x | 85.8x | 20.8x | |||
| $11M | ($1M) | 31.7x | - | (284.9x) | - | |||
| $427M | $81M | 1.1x | 1.0x | 5.6x | 5.2x | |||
| $164M | ($12M) | 1.7x | 1.6x | (22.9x) | 10.1x | |||
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Common questions about Scapia
| When was Scapia founded? | Scapia was founded in 2022. |
| Where is Scapia headquartered? | Scapia is headquartered in Bangalore, India. |
| Is Scapia publicly listed? | No, Scapia is a private, VC-backed company. |
| What is Scapia's valuation? | Scapia was last valued at $500M in its Series C in May 2026. |
| How much funding has Scapia raised? | Scapia has raised $135M across 4 funding rounds. |
| What was Scapia's last funding round? | Scapia's last funding round was a $63M Series C in May 2026, led by General Catalyst. |
| Who are Scapia's investors? | Scapia's investors include Z47, 3STATE Ventures, Elevation Capital, Tanglin Venture Partners, Peak XV Partners, General Catalyst and Keki M Mistry. |
| What is Scapia's revenue? | Scapia's latest recorded revenue is $3M (April 2025). |
| What is Scapia's revenue multiple? | Scapia's latest valuation implies a 64.7x revenue multiple ($194M valuation on $3M of revenue). |
| Which companies are comparable to Scapia? | Companies comparable to Scapia include Lunchbox Technologies, Deliverect, StoreHub, Perk, Agilysys and Shiji Group. |
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