Peak XV-backed Scapia reports Rs 83 Cr loss on Rs 29 Cr revenue in FY25

Travel fintech startup Scapia has raised $40 million in a Series B round led by Peak XV shortly after FY25, as investors doubled down on the company’s growth potential. The fundraiser follows over 70% year-on-year growth in scale. However, losses continue to remain a key challenge for the company.

Scapia’s operating revenue surged to Rs 29 crore in FY25 from Rs 17 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC).

Founded by Anil Goteti, Scapia operates as a fintech-travel platform, offering a lifetime-free credit card with travel rewards. It generates revenue through interchange fees, interest on EMIs, and partner commissions from travel bookings.

Service income remained the largest contributor to the company, which accounted for 82.8% of operating revenue. This income increased 60% to Rs 24 crore in FY25. Revenue from convenience fees more than tripled to Rs 3.4 crore, while commission income grew 71.4% to Rs 1.2 crore during the year.

On the cost side, employee benefit expenses emerged as the largest cost head, accounting for nearly half of the total cost. This expense jumped 71.8% to Rs 61 crore in FY25 from Rs 35.5 crore in FY24. Advertising expenses declined sharply by 35% to Rs 32 crore in FY25 from Rs 49.5 crore in FY24. Other operating costs, such as lounge service expenses remained flat at Rs 7 crore, while subscription charges rose 17% to Rs 7 crore. Customer support costs increased marginally to Rs 4 crore, and other expenses climbed 21% to Rs 12.5 crore.

Overall, Scapia’s total expenses increased 10% to Rs 123.5 crore in FY25 from Rs 112 crore in FY24. For a more detailed expense breakup, refer to TheKredible.

With Scapia’s revenue outpacing expense growth, its net loss reduced to Rs 83 crore in FY25 from Rs 88 crore in FY24. Its ROCE and EBITDA margin stood at -22.98% and -322.41%, respectively.

On a unit basis, Scapia spent Rs 4.26 to earn a rupee in FY25, an improvement from Rs 6.59 in FY24. The company strengthened its balance sheet during the year, with cash and bank balance worth Rs 305 crore, while its current assets more than doubled to Rs 331 crore.

According to TheKredible, Scapia has raised a total of $72 million of funding to date, having Peak XV Partners, Matrix Partners and Elevation Capital as its lead investors. The company’s founder, Anil Goteti, owns 40% of the company.