Travel credit card fintech records 30% rise in travel bookings this summer

Women solo travellers grew at the rate of 47%, whereas solo travellers who were men grew 39%

Travel credit card fintech Scapia on Friday said the company recorded a 30 per cent increase in domestic and international travel bookings on the platform during the summer season this year, compared to bookings in January.

The Bengaluru-based company said domestic destinations such as Goa, Varanasi, Srinagar, Port Blair, and Leh were popular between February and May, whereas on the international front, travellers preferred to visit countries such as UAE, Thailand, Malaysia, Singapore, Indonesia, and Sri Lanka.

Women solo travellers grew at the rate of 47 per cent, whereas solo travellers who were men grew 39 per cent.

In terms of such travel, Thailand and Malaysia witnessed a fourfold increase in popularity, along with Nepal, which recorded a threefold increase in bookings.

 

“Women’s greater engagement in solo travel reflects a positive shift in the Indian travel and tourism market. This shift can be attributed to advancements in technology that offer real-time travel support, improved security measures, and the abundance of travel information available online,” the company said in a statement.

Lesser-known destinations like Penida Island in Indonesia, Nonthaburi in Thailand, and Kowloon in Hong Kong made it to travellers’ lists this summer.

The growth in travel numbers on the platform comes even as the company witnessed some turbulence at the start of 2024 when some of Scapia’s customers saw their credit limits marked down by its banking partner Federal Bank.

The company was founded in 2022 by Anil Goteti, a former senior executive at e-commerce giant Flipkart.

It raised $23 million in a funding round led by Elevation Capital and 3STATE Ventures, an investment firm of former Flipkart chief executive Binny Bansal.

The Series A round was attended by Scapia’s existing investors, Matrix Partners India and Tanglin Venture Partners.