Scapia Announces ₹20 Crore ESOP Buyback After $63 Million Series C Funding

Introduction

Travel fintech startup Scapia has announced a ₹20 crore Employee Stock Ownership Plan (ESOP) buyback, giving eligible employees a chance to cash in a portion of their vested stock options. Under the program, employees can sell up to 10% of their vested ESOPs, which gives them some liquidity while also recognizing the role they’ve played in the company’s rapid growth. The announcement comes soon after Scapia closed a $63 million Series C funding round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47. The move underlines the company’s focus on rewarding its people even as it pushes ahead with expansion across India’s travel and financial services space.

Main Details

The ESOP buyback is another notable milestone for Scapia, which has grown into one of India’s fastest-growing travel fintech startups since it launched in 2022. Employee stock ownership plans are now a standard part of startup compensation, letting employees share in the value they help create. But chances to actually turn those options into cash are still fairly rare, which is why ESOP buybacks tend to be so well received among startup employees.

Through this buyback, eligible Scapia employees will be able to liquidate up to 10% of their vested options, allowing them to realize some financial gains without having to wait for a public listing or an acquisition. The ₹20 crore liquidity event also signals that management is confident about the company’s financial footing and where it’s headed.

This announcement follows Scapia’s successful Series C round, where the startup raised $63 million from investors led by General Catalyst. Existing backers Peak XV Partners and Z47 also took part, which reflects continued confidence in the company’s business model and growth plans.

Over the past year, Scapia has raised more than $100 million, bringing its total funding to roughly $135 million. The fresh capital will mainly go toward product development, technology upgrades, customer acquisition, and expanding beyond its flagship co branded credit card business into a fuller travel ecosystem.

Company Statement

Speaking about the announcement, Anil Goteti, Founder and CEO of Scapia, said the buyback reflects the company’s appreciation for its employees.

He shared that when the team started Scapia, they wanted to build something genuinely new, a category that hadn’t really existed for a generation of travellers who think and spend differently. He added that building something new takes passion, conviction, and a strong team, and that this buyback is one way of recognizing that contribution, with hope that it becomes the first of many such moments.

The statement reflects Scapia’s people first approach, and reinforces how much the company values employee ownership as it continues growing.

Business Growth and Expansion

Founded in January 2022, Scapia sits at the crossroads of travel and financial technology, aiming at India’s growing base of Gen Z and millennial travellers. The company blends financial services with a digital travel platform, letting customers earn travel rewards through everyday spending.

Scapia currently offers co branded credit cards in partnership with Federal Bank and BOBCARD. These cards are built specifically for frequent travellers, rewarding users with Scapia Coins that can be redeemed for travel bookings on the platform.

What started as a focus on flights and hotel bookings has since expanded into several travel categories. Customers can now book flights, hotels, visas, trains, buses, holiday experiences, trips, travel stores, and other travel-related services all through a single platform.

This kind of integrated ecosystem lets users plan, book, and pay for travel while earning rewards through the company’s financial products, making for a smoother overall experience.

Strong Operating Performance

Scapia has reported strong operational growth over the past year.

According to the company, flight bookings grew five to six times year on year, while hotel bookings grew nearly eight times over the same period. These numbers point to solid customer adoption even with rising competition in India’s online travel space.

The startup also shared that its co-branded credit cards have been used in 174 countries across 113 currencies, which speaks to their growing acceptance among Indian travellers abroad.

Scapia has also launched one of India’s few dual-network credit cards, supporting both Visa and RuPay. This gives customers more flexibility and improves payment acceptance both within India and internationally.

The company now serves customers across more than 17,500 pincodes in India, a sign of just how much its nationwide presence has grown.

Financial Performance

Scapia’s financial results also point to steady growth.

For the financial year ending March 2025 (FY25), the startup reported operating revenue of ₹29 crore, a 71% jump from ₹17 crore in FY24.

While the company is still investing heavily in expansion, customer acquisition, and technology, it has also managed to improve its profitability numbers. Scapia’s net loss narrowed to ₹83 crore in FY25, compared to ₹88 crore the year before.

The company is still loss-making, but the improvement suggests its revenue growth is starting to outpace its operating expenses, which bodes well for stronger financial performance ahead.

Market Impact

Scapia’s ESOP buyback is part of a wider trend across India’s startup ecosystem, where venture-backed companies are increasingly rewarding employees through liquidity events like this one.

Industry data shows that nine Indian startups have together announced ESOP buybacks worth more than $270 million during 2026. Companies including BrowserStack, Innovaccer, CoinDCX, Unacademy, Tractor Junction, Emversity, Cashfree Payments, Plum, and Kratikal have all rolled out similar employee liquidity programs this year.

Ecommerce giant Flipkart also recently approved its second discretionary ESOP liquidity event, estimated at around $25 million.

These programs have become an important tool for startups trying to attract and hold on to top talent in India’s competitive tech sector. Letting employees turn their stock options into cash before an IPO tends to boost satisfaction while also reinforcing long-term commitment.

For investors, ESOP buybacks are also a positive signal, showing confidence in a company’s valuation and financial stability.

Background

Scapia was founded in 2022 by Anil Goteti, who previously held leadership roles in the technology and e-commerce industry. The company was built around a vision of simplifying travel for modern Indian consumers by combining financial services with travel planning.

Today, Scapia’s platform brings together travel bookings and payment solutions, giving customers a single ecosystem where everyday spending turns into travel rewards.

Its co-branded credit cards, travel marketplace, and growing range of travel services have positioned it as an emerging name in India’s fast-growing travel fintech space.

With solid investor backing, rising customer adoption, and ongoing product innovation, Scapia is shaping a distinctive business model that blends digital finance with travel experiences.

Conclusion

Scapia’s ₹20 crore ESOP buyback is more than just a liquidity event for employees. It reflects the startup’s confidence in its long term growth strategy and its commitment to rewarding the people driving that growth. Coming right after a successful $63 million Series C round, the move strengthens employee ownership while reinforcing investor confidence in where the company is headed.

As Scapia keeps expanding its travel platform, growing its fintech offerings, and widening its customer base across the country, it looks well placed to become one of India’s leading travel-focused financial technology companies. With rising revenue, improving financials, and continued investment in innovation, Scapia’s growth story is likely to stay on the radar of both the startup ecosystem and the broader financial services industry.