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Can Binny Bansal-backed Scapia win the travel credit card race?

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Sohini Mitter

23 reads
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Sohini Mitter

23 reads

Scapia, a travel fintech firm founded by a former Flipkart executive, wants to improve credit access for India’s aspirational young travellers. Its first product is a co-branded credit card that is reaching deep pockets in the country as travel rebounds.

December 18, 2023

8 MINS READ

Key Takeaways

  • With post-pandemic travel exploding in India and overseas, travel credit card applications are at an all-time high
  • Scapia, through its LTF co-branded credit card with Federal Bank, is targeting the young, aspirational Indian traveller aged 24-35
  • On top of the fintech product is an in-app travel commerce platform that is helping Scapia unlock additional revenue
  • Just six months into its launch, Scapia has raised $32 million from marquee investors, including Binny Bansal's venture fund, Elevation Capital, and others

After spending nine years at e-commerce giant Flipkart during which he led multiple initiatives and programmes, Anil Goteti wanted to build something of his own. He contemplated setting up a ‘millennial-focused’ online travel aggregator (OTA), then a forex debit card, before finally zeroing in on his current offering—a credit card with travel rewards.

This, too, was no straightforward decision. Goteti’s team tested 72 models and conducted countless user interviews with “young, aspirational travellers” before Scapia was launched in June 2023. “We’re a fintech company with a travel commerce platform built-in. From Day One, we’ve built two businesses into one,” Goteti, the CEO and co-founder of Scapia, tells The CapTable

Before getting into why Scapia is making a splash lately, with credit card forums buzzing with user queries as well as gripes about unsuccessful card applications, it’s worth noting that India is witnessing one of the biggest post-pandemic travel rebounds in the world. 

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