Bengaluru-based Scapia has closed a $63M Series C led by General Catalyst at a valuation exceeding $500M, more than doubling its worth in just over a year.
The raise puts Scapia on a collision course with Revolut, the London-headquartered fintech giant now pushing aggressively into India’s UPI market with a $670M five-year commitment.
Scapia’s credit cards are used 15-20 times monthly per user — a frequency that signals genuine daily utility rather than a signup bonus play.
India’s travel-fintech space just got a lot more expensive to compete in. Scapia, the Bengaluru startup that has spent three years stitching together flight bookings, hotel reservations, co-branded credit cards, and UPI payments inside a single app, has closed a $63 million Series C led by General Catalyst — the same firm that runs one of the most active venture operations in Europe through its Berlin and Munich-based arm, formerly La Famiglia. Existing investors Peak XV Partners and Z47 also participated. The all-equity deal values Scapia at more than $500 million, more than doubling the roughly $200 million valuation it held just over a year ago.
The raise brings total funding to $135 million, following a $40 million Series B roughly a year ago.
