Total amount raised
₹2.6 Billion
Latest funding date
11/1/2023
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.
Keep reading to explore the intricacies of Scapia's fundraising journey and the investors backing this innovative platform.
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: INR 740,000,000 (approximately USD 9,000,000)
- Date: June 2023
- Lead Investors: Z47
- 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: INR 1,900,000,000 (approximately USD 23,000,000)
- Date: November 2023
- Lead Investors: 3STATE Ventures, Elevation Capital
- 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 2025
- Lead Investors: Peak XV Partners
- 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 known for its investments in high-growth startups. They led Scapia's Series B funding round.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: Not publicly disclosed.
- 3STATE Ventures
- Details: 3STATE Ventures is an investment firm led by Binny Bansal, co-founder of Flipkart. They focus on early-stage investments in innovative startups.
- 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 invests in early-stage startups. They have been involved in multiple funding rounds for Scapia.
- Investment Focus Areas: Consumer internet, SaaS, fintech, healthcare.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- Matrix Partners India
- Details: Matrix Partners India is a venture capital firm that invests in early-stage companies across various sectors. They have participated in Scapia's funding rounds.
- Investment Focus Areas: Consumer technology, B2B, fintech, healthcare.
- Notable Investments: Ola, Practo, Dailyhunt.
- Z47
- Details: Z47 is a venture capital firm that has been a key investor in Scapia's seed funding round. Vikram Vaidyanathan from Z47 is actively involved with Scapia.
- 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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