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Scapia Disrupts the Travel Rewards Landscape with $9 Million Funding
Scapia, a pioneering company offering a dedicated credit card and software solution for travelers, has successfully raised $9 million in seed funding. The investment round was led by Matrix Partners India, with notable participation from Tanglin Venture Partners, 3STATE Ventures led by Binny Bansal, and angel investors, including Keki Mistry.
Scapia has been operating in stealth mode for the past year and has recently launched a co-branded Visa credit card in collaboration with Federal Bank, specifically targeting the Indian market.
Unparalleled Benefits for Travel Enthusiasts
Scapia’s credit card provides an array of enticing benefits designed to enhance the travel experience. Users can enjoy the advantages of no foreign exchange fees, unlimited access to domestic airport lounges, zero annual or joining fees, and a remarkable 10% reward rate on all purchases made.
This comprehensive package aims to cater to the needs and aspirations of travel-savvy individuals seeking unparalleled benefits from their primary credit card.
Seamless Redemption of Rewards for Travel Experiences
With Scapia’s innovative credit card app, customers gain access to a powerful tool that enables instant redemption of accumulated points for flights and hotel bookings.
Through the user-friendly app, travelers can conveniently plan and book their travel experiences, all while utilizing the rewards earned from their credit card purchases. Scapia’s commitment to delivering a seamless and efficient redemption process ensures a hassle-free experience for cardholders.
The Vision of Anil Goteti, Founder of Scapia
Anil Goteti, a former executive of the prominent Indian e-commerce company Flipkart, founded Scapia with a mission to address the low credit card penetration in India. With less than 5% of Indians currently possessing credit cards, Goteti envisions a future where credit card usage becomes more widespread.
By providing millennials, known for their avid interest in travel, with a primary card that offers exceptional travel benefits and perks, Scapia aims to cater to the evolving needs of this dynamic demographic.
Meeting the Growing Demand for Travel-Focused Credit Cards
As India’s economy continues to expand and individuals seek new avenues for financial flexibility, the demand for credit cards is projected to surge. By 2030, the country is expected to have approximately 200 million credit cards in circulation.
Recognizing this opportunity, Scapia aims to capture the attention of millennials and tap into this emerging market segment. With a focus on transparency, trust, and exceptional customer service, Scapia’s vision aligns with the desires of this tech-savvy generation.
Revolutionizing the Travel Rewards Landscape
Scapia’s successful funding round not only highlights investor confidence in the company’s vision but also signifies the potential disruption of the travel rewards credit card industry.
By combining cutting-edge technology, enticing benefits, and a user-friendly app, Scapia is poised to redefine the way travelers earn and redeem rewards. With a strong foundation and a mission to deliver exceptional value to its customers, Scapia is poised to make its mark as a frontrunner in the travel rewards credit card space.