General Catalyst simply led a $63M wager on India’s journey funds market

Scapia, an Indian startup that mixes journey reserving with co-branded bank cards and cell funds, has raised $63 million in a funding spherical led by General Catalyst, with current buyers Peak XV Partners and Z47 additionally collaborating. The deal comes regardless of a broader slowdown in fintech dealmaking.

The all-equity spherical values assigns the startup a post-money valuation of greater than $500 million, in line with a supply acquainted with the matter, greater than doubling its valuation from around $200 million in April 2025. The four-year-old outfit has raised $126 million up to now from buyers.

That General Catalyst, one of the vital distinguished U.S. enterprise companies, is main the spherical means that India’s travel-focused fintech market is drawing severe consideration properly past its house area.

The funding comes as buyers globally develop extra selective in fintech bets after years of aggressive funding. In India, fintech funding remained largely flat in Q1 2026, whereas the variety of offers fell by greater than half from a yr earlier as buyers concentrated capital into fewer, bigger offers, per a recent report by Tracxn. By distinction, the U.S. noticed fintech funding develop sharply, driven by large rounds for a handful of firms in areas together with AI and crypto infrastructure.

Investors are betting Scapia can profit from rising demand amongst youthful Indians for apps that mix funds and journey bookings. Founded in 2022 by former Flipkart government Anil Goteti, the startup’s app combines co-branded bank cards, UPI-based funds, journey bookings, and commerce in a single place. UPI — India’s government-backed real-time funds community and one of the vital extensively used digital fee methods on the earth — is central to how youthful Indians transfer cash at the moment.

Over the previous yr, Scapia mentioned flight bookings on its platform grew almost six occasions, whereas resort bookings elevated about eightfold, with smaller Indian cities driving a rising share of demand. Customer progress additionally rose sevenfold throughout the identical interval, the startup mentioned, with out disclosing absolute figures.

Scapia has seen sturdy adoption amongst youthful vacationers who more and more need versatile journey rewards and built-in fee choices as an alternative of conventional bank card perks, Goteti mentioned in an interview. He added that one-third of customers now want airport eating and purchasing rewards over lounge entry.

“Lounges are getting quite crowded,” Goteti informed TechCrunch. “People actually are looking for an experience outside the lounge.”

Scapia additionally affords a dual-network co-branded bank card utilizing each Visa and RuPay — a government-backed Indian fee community — permitting customers to entry card funds and UPI-linked credit score via a single assertion, credit score line, and compensation circulation. Moreover, the startup companions with Federal Bank and BOBCARD to supply co-branded playing cards and plans so as to add one other banking associate within the coming months, Goteti mentioned.

The Bengaluru-based startup operates in a rising marketplace for travel-focused monetary merchandise in India, competing with firms like Niyo — one other Indian startup that mixes banking and journey options — and journey platform Ixigo, whereas international fintech companies together with Revolut are additionally eyeing the nation.

Scapia, which has about 250 staff, mentioned the recent funding will go towards increasing its product choices and hiring extra AI-focused engineering and product expertise as competitors intensifies in India’s client fintech market.