Scapia offers 0% forex markup for India travelers after $63 million round

How the Scapia card and booking app work

Scapia, a Bengaluru-based travel fintech, closed a $63 million equity round led by General Catalyst in May 2026, with participation from Peak XV Partners and Z47. The raise more than doubled the company's valuation past $500 million and pushed total funding to roughly $120 million since founding in 2022.

The platform pairs a co-branded credit card issued with Federal Bank and a booking app covering flights, hotels, trains, buses and 22,000-plus experiences across 45-plus countries. Card spends earn Scapia coins at roughly 10% on regular purchases and 20% on travel bookings made in-app, redeemable at five coins per rupee. International airport privileges covering duty-free, dining and spa benefits took effect Feb. 27, 2026.

Who stands to benefit

The card targets Indian residents who clear Federal Bank's credit eligibility, with the strongest pull for Indians spending abroad. Frequent international travelers, expats keeping Indian banking ties and digital nomads transacting in foreign currencies pick up the most from the 0% forex markup and lifetime-free fee structure.

Foreign tourists visiting India can't apply directly because issuance runs through Indian banks under local KYC and Reserve Bank of India norms. They can still receive bookings paid by an Indian cardholder.

Domestic users get the same coin-earning structure on trains, buses and intra-India flights, plus access to Scapia Pay, which routes UPI payments into travel rewards through a RuPay variant.

Fees, requirements and how to apply

The card carries no joining fee and no annual fee. Foreign currency markup is 0% on the Visa variant, though ATM withdrawals abroad still run about 2.5% of the amount or a minimum of 500 rupees, per Federal Bank's schedule.

Applicants need:

• Indian residency with PAN, Aadhaar or equivalent KYC
• Address proof
• Income proof such as salary slips, Form 16 or bank statements

Two application paths exist. The Scapia app handles end-to-end onboarding including selfie video verification, while Federal Bank branches accept physical applications for the same product. Late payment charges, revolving interest and cash advance fees follow standard Federal Bank terms.

Read our full India guide for the complete picture and browse more nomad news for related updates.