Scapia Announces ESOP Buyback Worth Rs 20 Crore

Scapia, a leading travel fintech startup, has unveiled its employee stock ownership plan (ESOP) buyback valued at Rs 20 crore, which aims to provide liquidity to qualifying employees. As part of this initiative, eligible employees can sell a maximum of 10% of their vested stock options.

Recent Funding and Expansion Plans

This buyback follows closely after Scapia secured $63 million in its Series C funding round, led by General Catalyst, with contributions from existing investors such as Peak XV Partners and Z47. The company is actively raising capital to diversify beyond its credit card offerings and establish a more extensive travel ecosystem, having raised over $100 million in funding in the last year.

The Vision Behind Scapia

Founded in 2022 by Anil Goteti, Scapia is positioned at the crossroads of travel and financial services. It provides co-branded credit cards in collaboration with Federal Bank and BOBCARD, along with a comprehensive travel platform offering flights, hotels, visas, trains, buses, experiences, and additional travel services.

Growth in Travel Services

According to Scapia, its flight bookings have surged by 5 to 6 times year on year, while hotel bookings have skyrocketed nearly 8 times in the same timeframe. The company highlighted that its cards are utilised in 113 currencies across 174 countries, demonstrating its international reach. Furthermore, Scapia has developed one of India’s dual network credit cards, which supports both Visa and RuPay.

Wide Customer Reach in India

Currently, Scapia caters to customers in over 17,500 pincodes throughout India via its travel platform and co-branded credit card solutions. For the fiscal year ending March 2025, the company reported a 71% increase in operating revenue, rising to Rs 29 crore from Rs 17 crore in FY24. Its net loss also decreased to Rs 83 crore in FY25, down from Rs 88 crore in the previous fiscal year.

Broader Industry Trends

Scapia joins a growing array of startups offering liquidity options to employees through ESOP buybacks this year. Data from Startup Superb indicates that nine startups have collectively repurchased ESOPs worth over $270 million in 2026 alone. This list includes recognisable names like BrowserStack, Innovaccer, CoinDCX, Unacademy, Tractor Junction, Emversity, Cashfree Payments, Plum, and Kratikal. Additionally, ecommerce giant Flipkart recently approved its second discretionary ESOP liquidity event, anticipated to be valued at around $25 million.