Scapia raises $63 million led by General Catalyst to scale AI-led travel fintech play

Subscribe to enjoy similar stories.Travel fintech startup Scapia has raised $63 million in a fresh funding round led by General Catalyst, with continued participation from existing investors Peak XV Partners and Z47."We're still very young and very small in terms of the largeness of India. There's a large opportunity to scale the business into a larger customer base," said Anil Goteti, founder and chief executive of Scapia in a conversation with Mint.

The company’s Series C was an all-primary round with no secondary transactions.The company declined to comment on its valuation, saying that it is “ultimately an outcome of long-term execution.”The company operates at the intersection of fintech and travel, offering a marketplace for users to book flights and purchase travel-related products, alongside co-branded credit cards in partnership with Federal Bank and Bank of Baroda.Scapia’s fundraise comes as Gen Z and millennial consumers in India increasingly allocate more spending toward travel. A joint report by Redseer Strategy Consultants and Fireside Ventures earlier this year found that one in three consumers spend over 20% of income on travel.

India’s Gen Z is expected to spend $102 billion on travel by 2030, up from $32 billion in FY24.The four-and-a-half-year-old company plans to use the capital to scale its customer base, invest in AI-native product development and hire talent across teams.“A large chunk of the hires will be towards AI-native builders, a lot more towards product development. That'll include engineers, data scientists, designers, and product folks who can continue to innovate,” said Goteti.Given Scapia’s business model, a significant portion of the capital will also go toward deploying AI across the