Bengaluru-based Scapia, co-branded credit card and app raise $23M in its Series A

—  The company will use the funds to add more financial services to the platform, including personal loans and insurance, and also hire more talent in product and tech development areas

 

 

Scapia, the travel credit-card startup launched by Flipkart’s former senior vice president Anil Goteti, has raised $23 million in its Series A funding round led by Elevation Capital and Binny Bansal’s fund 3State Ventures.

 

The round also saw participation from its existing investors Matrix Partners India and Tanglin Venture Partners.

“There is a massive opportunity for us and we will use the funds to grow our customer base, we will also look at diversifying our product suite and add more services like personal loans and travel insurance by next year,” founder and CEO Goteti told Moneycontrol.

 

 

The firm also plans to add more banking partners. At present, it has a tie-up with Federal Bank for credit cards. The firm is looking to hire more talent in product and tech development areas, it said.

 

 

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Bengaluru-based Scapia, which offers a co-branded credit card and an app to turn daily expenses into travel rewards, raised a $23M Series A

 

 

— Bhavya Dilipkumar / Moneycontrol

— Techmeme