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Total amount raised
$72M
Latest funding date
2025-04-03
Location
Scapia has successfully raised funds over three rounds, with the latest being a Series B round. The company is backed by six investors, including notable names like Z47, 3STATE Ventures, and Peak XV Partners.
What Is Scapia?
Scapia Technology Private Limited, based in Bangalore, Karnataka, India, offers a credit card tailored for travelers. The company operates in the financial services industry, focusing on credit cards and travel-related benefits.
Founded with the mission to help consumers manage their travel expenses, Scapia has grown to employ between 101 and 250 people. The company is currently in the Series B funding stage and has raised funds over three rounds.
Scapia's credit card provides numerous benefits, including zero joining fees, zero annual fees, and zero forex fees, making it an attractive option for frequent travelers. The card also offers rewards on every spend, which can be redeemed instantly for travel services through the Scapia app.
How Much Funding Has Scapia Raised?
- Seed Round
- Amount Raised: USD 9,000,000
- Date: June 28, 2023
- Lead Investors: Matrix Partners India (now Z47)
- Participants: Tanglin Venture Partners, 3STATE Ventures, Keki Mistry (angel)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial growth, develop partnerships, and launch product offerings.
- Series A Round
- Amount Raised: USD 23,000,000
- Date: November 21, 2023
- Lead Investors: Elevation Capital, 3STATE Ventures
- Participants: Matrix Partners India (Z47), Tanglin Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the customer base, add banking partners, and enhance product offerings.
- Series B Round
- Amount Raised: USD 40,000,000
- Date: April 3, 2025
- Lead Investors: Peak XV Partners
- Participants: Elevation Capital, Z47, 3STATE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
Total Amount Raised: USD 72,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Peak XV Partners
- Details: Peak XV Partners is a prominent venture capital firm that led Scapia's Series B round, investing approximately $25.6 million of the $40 million raised.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: Not publicly disclosed.
- Matrix Partners India (Z47)
- Details: Matrix Partners India, now rebranded as Z47, led Scapia's $9 million seed round in June 2023 and continued as a participant in subsequent rounds. Vikram Vaidyanathan from Z47 is actively involved with Scapia.
- Investment Focus Areas: Technology, consumer internet, fintech.
- Notable Investments: Not publicly disclosed.
- 3STATE Ventures
- Details: 3STATE Ventures is an investment firm led by Binny Bansal, co-founder of Flipkart. They co-led Scapia's Series A and participated in the seed and Series B rounds.
- Investment Focus Areas: Technology, e-commerce, consumer services.
- Notable Investments: Acko, Curefit, BlackBuck.
- Elevation Capital
- Details: Elevation Capital is a leading venture capital firm that co-led Scapia's Series A round and participated in the Series B round, investing approximately $7.3 million in the latter.
- Investment Focus Areas: Consumer internet, SaaS, fintech, healthcare.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- Tanglin Venture Partners
- Details: Tanglin Venture Partners participated in Scapia's seed and Series A rounds as a supporting investor.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Scapia?
Scapia stands at the cusp of significant growth, driven by the burgeoning travel fintech sector. With a recent $23 million funding round, the company is poised to expand its customer base, onboard more banking partners, and enhance its product offerings. The travel fintech market is ripe with opportunities, particularly in India, where the demand for innovative financial solutions is on the rise.
Future fundraising opportunities seem promising as Scapia continues to attract investor interest. The company's rapid growth and strong market presence suggest that additional funding rounds could be on the horizon to support further expansion and product development. However, Scapia will need to navigate challenges such as competition from other fintech companies, regulatory hurdles, and the need to continuously innovate to stay ahead in the market.
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