Scapia, an Indian startup that merges travel booking with co-branded credit cards and mobile payments, has secured $63 million in funding from General Catalyst, among others. This all-equity round values the company at over $500 million, more than doubling its valuation since April 2025.

The deal comes amid a slowdown in fintech dealmaking globally, with India seeing flat fintech funding and fewer deals in Q1 2026. However, the U.S. has witnessed a sharp increase in funding, driven by large rounds in AI and crypto infrastructure sectors.

Founded by Anil Goteti, formerly of Flipkart, Scapia’s app integrates co-branded credit cards, UPI-based payments, travel bookings, and commerce into one seamless experience. UPI, India's government-backed real-time payment system, is pivotal for younger Indians who use it to move money efficiently.

Scapia reports a sixfold increase in flight bookings and an eightfold rise in hotel bookings over the past year, with demand increasing in smaller Indian cities. The company also offers dual-network co-branded credit cards that allow users to access both Visa and RuPay networks through one statement and repayment flow.

The funds will be used to expand product offerings and hire more AI-focused engineering talent as competition intensifies in India's consumer fintech market, positioning Scapia to challenge established players like Niyo and Ixigo, while also attracting interest from global firms such as Revolut.