In a significant milestone for its journey, Scapia, a digital credit card platform, has secured a Series A funding round of $23 million. The round was led by Elevation Capital and 3STATE Ventures, marking a significant investment in the company’s growth and expansion plans.
Scapia, founded by Anil Goteti, a former senior executive at Flipkart, has been making waves in the fintech space with its innovative approach to credit card services. The company’s unique offering is a credit card and software dedicated to travelers, offering a range of travel rewards and benefits.
The Series A funding round is a testament to the company’s potential and the value it brings to the market. The funds raised will be used to strengthen its platform, expand its reach, and continue to innovate in the credit card space.
Elevation Capital, one of the leading venture capital firms in India, has been a significant backer of several successful startups in the country. Their investment in Scapia underscores their belief in the company’s potential and its position in the fintech sector.
3STATE Ventures, on the other hand, is known for its investment in several startups in the tech and fintech sectors. Their investment in Scapia further validates the company’s innovative approach and its potential to disrupt the traditional credit card market.
The funds raised in this round will also be used to develop and launch new features and services for Scapia’s customers. The company has been actively involved in creating a unique and personalized experience for its customers, offering features like digital skins for cards, personalized recommendations for transactions, and exclusive experiences for its customers.
This Series A funding round is a significant step for Scapia, marking a major milestone in its journey. With the backing of Elevation Capital and 3STATE Ventures, the company is well-positioned to continue its innovative approach in the credit card market and create a unique experience for its customers.
In the tweet shared by Scapia on X ( Twitter ), it has been mentioned that they have delivered their product to more than 575+ towns in 30 states and union territories across 7500+ pin codes. Their customers have travelled to more than 50 countries across 5 continents in 5 months.
The founder of Scapia, Anil Goteti, quoted the funding anouncement tweet on X ( Twitter ) platform.