Travel fintech startup Scapia, founded by Anil Goteti, is currently in early discussions to secure $50-60 million in funding, with US VC General Catalyst as a potential lead investor. The funding is intended to support the company’s growth plans, specifically to enhance its co-branded credit card offerings and travel booking services.
Scapia’s financial performance has been notable, with a 70% year-over-year revenue increase to Rs 40.4 crore and a reduction in losses. This positive trajectory has positioned Scapia as a key player in the competitive landscape, facing off against rivals such as Uni Cards, Niyo, and Jupiter in the travel fintech sector.
By potentially securing this significant funding round, Scapia aims to further solidify its market presence and introduce new tech solutions to enhance user experience and expand its customer base.
Source: Tech-Economic Times