Travel-focused fintech startup Scapia has announced an ESOP buyback programme worth ₹20 crore, allowing eligible employees to liquidate up to 10% of their stock options, the company said. The initiative was revealed this week by founder and CEO Anil Goteti, following the startup’s recent $63 million fundraise to accelerate its AI-driven product development and expand its customer base across India, according to inc42.com.
Scapia, founded in 2022 by Goteti, offers co-branded credit cards in partnership with Federal Bank and Bank of Baroda, targeting Gen Z and millennial travellers. The cards operate on the Visa network and provide benefits such as zero forex markup, unlimited domestic lounge access, and travel rewards. The startup serves users across 17,500 pincodes in India and is accepted by merchants in over 150 countries. The ESOP buyback is part of Scapia’s effort to recognise employee contributions, Goteti said.
The ₹20 crore buyback reflects a growing trend among Indian startups to provide liquidity options to employees amid rising valuations and fundraises. Scapia has raised over $135 million to date from investors including General Catalyst, Peak XV Partners, Elevation Capital, Z47, and 3STATE Capital, founded by Binny Bansal. The company’s recent $63 million round underscores investor confidence in its AI-first approach to fintech solutions for travel-focused customers.
Scapia’s ESOP buyback programme follows its latest $63 million funding round, which was announced earlier this year, marking a significant milestone in the startup’s growth trajectory, inc42.com reported.