General Catalyst just led a $63M bet on India’s travel payments market

Scapia, a four-year-old Indian startup that combines travel booking with co-branded credit cards and mobile payments, has secured $63 million in a funding round led by General Catalyst. Existing investors Peak XV Partners and Z47 also participated in the all-equity round, which values the startup at over $500 million. The significant investment comes despite a broader slowdown in fintech dealmaking, particularly in India where funding remained largely flat in Q1 2026.

However, investors are betting on Scapia's potential to capitalize on growing demand among younger Indians for apps that integrate payments and travel bookings. Founded in 2022 by former Flipkart executive Anil Goteti, Scapia's app offers a range of services, including co-branded credit cards, UPI-based payments, travel bookings, and commerce. The startup has seen rapid growth, with flight bookings on its platform growing nearly six times and hotel bookings increasing about eightfold over the past year.

Customer growth also rose sevenfold during the same period, driven largely by smaller Indian cities. Goteti attributes the success to the app's appeal among younger travelers who want flexible travel rewards and integrated payment options. "Lounges are getting quite crowded," Goteti said in an interview.

"People actually are looking for an experience outside the lounge." Scapia's platform offers a dual-network co-branded credit card using both Visa and RuPay, allowing users to access card payments and UPI-linked credit through a single statement, credit line, and repayment flow. The startup partners with Federal Bank and BOBCARD to offer co-branded cards and plans to add another banking partner in the coming months. With the fresh funding, Scapia will expand its product offerings and hire more AI-focused engineering and product talent to stay competitive in India's consumer fintech market.

The Bengaluru-based startup operates in a growing market for travel-focused financial products in India, competing with companies like Niyo and travel platform Ixigo, while global fintech firms including Revolut are also eyeing the country. Scapia, which has about 250 employees, has raised $126 million to date from investors. The latest funding round marks a significant vote of confidence in the startup's potential to disrupt India's travel payments market.