Scapia, a travel credit card fintech based in Bengaluru, has announced a notable 30% increase in domestic and international travel bookings during the summer season, compared to January. This surge in travel demand reflects a positive rebound in the tourism sector following the initial turbulence of 2024.
Domestically, travelers favored destinations like Goa, Varanasi, Srinagar, Port Blair, and Leh between February and May. Internationally, the UAE, Thailand, Malaysia, Singapore, Indonesia, and Sri Lanka emerged as popular choices.
One of the most significant trends observed by Scapia is the rise in solo travelers. Women solo travelers witnessed a 47% increase, while solo male travelers saw a 39% growth. This trend is particularly pronounced in Thailand and Malaysia, where solo travel bookings surged fourfold. Nepal also saw a threefold increase in bookings from solo travelers.
Scapia attributes the growing popularity of solo travel, particularly among women, to advancements in technology, improved security measures, and the readily available travel information online. This accessibility empowers individuals to explore destinations independently, leading to a shift in the Indian travel and tourism landscape.
Beyond popular destinations, Scapia also observed a surge in bookings for lesser-known locations like Penida Island in Indonesia, Nonthaburi in Thailand, and Kowloon in Hong Kong, indicating a growing interest in off-the-beaten-path experiences.
Despite facing initial challenges in 2024, when some Scapia customers experienced credit limit reductions by Federal Bank, the company has rebounded strongly. Founded in 2022 by former Flipkart executive Anil Goteti, Scapia secured $23 million in funding led by Elevation Capital and 3STATE Ventures, with participation from Matrix Partners India and Tanglin Venture Partners. This investment is expected to fuel Scapia’s growth and expansion plans, further solidifying its position in the travel fintech space.
