VC Fund Investments
Travel fintech firm Scapia raises $9-M led by Matrix Partners
Scapia, a Bengaluru-based travel fintech company, has raised USD 9 million in a seed round led by Matrix Partners India. Tanglin Venture Partners, Binny Bansal's 3STATE Ventures, and angel investors Keki Mistry (chief executive officer of HDFC Ltd) also participated in the funding round. Scapia converts a customer's everyday expenses into travel rewards stored in a co-branded card launched in partnership with the Federal Bank. The card, which operates on the Visa network, offers a 10% reward on every transaction, minting these into Scapia coins. The firm enables customers to redeem the coins for flights and hotel bookings.
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