Scapia, an India-based fintech firm targeted on making journey extra accessible, has efficiently raised $23 million in its Sequence-A funding spherical.
The spherical was led by Elevation Capital and 3STATE Ventures, with participation from present buyers Matrix Companions India and Tanglin Enterprise Companions.
Scapia mentioned the brand new capital injection will it to develop its buyer base, add extra banking companions, and improve its product suite, thereby enhancing journey experiences for extra prospects.
Anil Goteti, the founding father of Scapia, expressed gratitude in direction of each new and present buyers for supporting the corporate’s imaginative and prescient and serving to ship a compelling proposition to prospects.
In simply 5 months since its launch, Scapia has gained important reputation, distributing its co-branded bank card throughout over 7500 pin codes.
Notably, 40% of its customers are from past the highest 30 cities, indicating Scapia’s speedy development in India’s various monetary panorama. The ‘Scapia Tribe’, the corporate’s consumer group, has utilized the app and card to journey throughout 50 international locations on 5 continents.
Scapia’s co-branded card, developed in partnership with Federal Financial institution, affords enticing advantages corresponding to zero becoming a member of and annual charges, a zero-forex markup, limitless home lounge entry, and a beneficiant 10% reward on transactions, transformed into Scapia cash.
Moreover, the corporate has developed a journey platform throughout the app, permitting prospects to redeem their cash immediately for flight and resort bookings.
Scapia affords a broad choice throughout world airways and over 500,000 stays and resorts, with aggressive pricing, simple cancellations, versatile rescheduling, and fee choices like Journey Now, Pay Later, together with 24/7 customer support.
Mridul Arora from Elevation Capital highlighted the transformative energy of fintech in making journey extra accessible for Indians. Binny Bansal of 3STATE Ventures recommended the revolutionary rise of fintech in India, notably praising Scapia’s tailor-made options for journey.
Vikram Vaidyanathan of Matrix Companions India additionally expressed pleasure in persevering with the partnership with Scapia, acknowledging its robust buyer enchantment and modern integration of fintech and journey.
