Scapia secures $23 million in series A for customer growth, banking partnerships, and product enhancement

Bengaluru-based travel fintech startup Scapia, founded by former Flipkart executive Anil Goteti, has secured $23 million as a part of its series A funding. The round was co-led by elevation capital and Binny Bansal's 3State ventures. The round also saw participation from existing investors such as Matrix Partners India and Tanglin Venture Partners. With this, Scapia's total funding stands at $32 million till date. They plan to use this money to get more customers, work with more banks, and make their product better.

Speaking to CNBC-TV18, Anil Goteti, founder of Scapia said, “The money is going to go towards multiple things. One, obviously, is to get customer growth, we are scratching the surface, it's very, very early days, we have just launched five months ago, the customer love has been fantastic. We are going to spread the love to millions of customers around the country, we need to take the product to many places. We obviously want to also innovate on the product, we want to continue developing new features. We are obviously investing in people, we want to bring in best of talent to be able to grow the company and put the best product out there. So that's where the money is going to go towards."

Credit card fintech platform Kiwi has raised $13 million (₹108 Crore) in a series-A funding round, led by Omidyar Network. This was led by Omidyar Network, and existing investors Nexus Venture Partners and Stellaris Venture Partners also joined in. Kiwi wants to use this money to expand their 'credit cards on UPI' offerings in India. To discuss this and more CNBC-TV18 spoke to Kiwi's Co-Founder, Mohit Bedi.