Bengaluru-based Scapia $23M Series A

Bengaluru-based, Scapia, a travel-tech company that uses advanced AI programs to provide you with the best travel plans raised $23 million co-led by 3STATE Ventures & Elevation Capital in a Series A round.

Existing investors such as Tanglin Venture Partners & Matrix Partners India actively backed the round. After this round, the funds brought in by Scapia are $32 million.

Bengaluru-based Scapia Raised $23M Series A

CEO Scapia, Anil Goteti (ex-Flipkart Executive) said that the funds raised will be used for marketing and expansion. They are working on strategic partnerships with preferred banks. Also, Scapia is planning to improve customer experience.

Scapia recently announced its co-branded credit card with Federal Bank. This credit card offers your daily spending to travel rewards and offer unlimited domestic lounge access with zero-forex markup charges.

Scapia customers consist of 25% self-employed and 75% salaried employees with an average monthly salary of 24lakh/annum. Moreover, according to a report in the next 5 years the anticipation of Credit Card growth from 90 million users to 300 million.

Also Read: Read AI $21M Series By Goodwater

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