Travel fintech startup Scapia announces Rs 20 Cr ESOP buyback

Travel fintech startup Scapia has announced an employee stock ownership plan (ESOP) buyback worth Rs 20 crore, offering liquidity to eligible employees.

Under the programme, eligible employees can sell up to 10% of their vested stock options.

The buyback comes soon after Scapia’s $63 million Series C round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47. The company has been raising capital aggressively to expand beyond its credit card business and build a broader travel ecosystem. Over the past year, it has secured more than $100 million in funding.

Founded in 2022 by Anil Goteti, Scapia operates at the intersection of travel and financial services. The company offers co-branded credit cards in partnership with Federal Bank and BOBCARD, alongside a travel platform that includes flights, hotels, visas, trains, buses, experiences and other travel services.

Scapia claims its flight bookings have grown 5 to 6 times year on year, while hotel bookings have increased nearly 8 times during the same period. The company added that its cards have been used across 113 currencies in 174 countries and that it has developed one of India’s dual network credit cards supporting both Visa and RuPay.

Scapia currently serves customers across more than 17,500 pincodes in India through its travel platform and co-branded credit card offerings.

For the fiscal year ended March 2025, the company’s operating revenue increased 71% to Rs 29 crore from Rs 17 crore in FY24. Its net loss narrowed to Rs 83 crore in FY25 from Rs 88 crore in the previous fiscal year.

Scapia joins a growing list of startups that have offered liquidity to employees through ESOP buybacks this year. According to data compiled by Entrackr, nine startups have collectively bought back ESOPs worth more than $270 million in 2026 so far. The list includes BrowserStack, Innovaccer, CoinDCX, Unacademy, Tractor Junction, Emversity, Cashfree Payments, Plum and Kratikal.

Recently, ecommerce major Flipkart also approved its second discretionary ESOP liquidity event, which is expected to be worth around $25 million.