Travel fintech startup Scapia raises $23-M led by Elevation Capital, Binny Bansal

Bengaluru-based Scapia , a fintech firm offering co-branded credit cards for travel, has raised USD 23 million in a Series A funding round led by Elevation Capital and Binny Bansal's 3 State Ventures. Existing investors Matrix Partners India and Tanglin Venture Partners also participated in the round. Founded by Anil Goteti, a former senior vice president at Flipkart, the five-month-old startup offers digital credit cards to travellers in partnership with the Federal Bank, and allows them to earn rewards on each transaction in the form of Scapia coins.