Scapia raises $40 million led by Peak XV Partners

BENGALURU: Travel fintech startup Scapia has raised $40 million in a Series B funding round led by Peak XV Partners, with participation from existing investors Elevation Capital, Z47, and 3STATE Capital. The company said it will use the capital to expand its team, accelerate product development in travel and financial services, and invest in artificial intelligence.
Scapia, which offers a co-branded credit card in partnership with Federal Bank, claims growing demand for its product is being driven by younger consumers’ interest in travel and digital-first financial offerings. The company’s app integrates travel booking services and financial tools targeted at Gen Z and millennial users.
“In…