Fintech
Fintech Travel Credit Card Sees 30% Increase in Summer Bookings
Saturday 29 June 2024
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Travel credit card fintech Scapia has announced a significant 30% increase in domestic and international travel bookings this holiday season, compared to January. The Bengaluru-based company highlighted popular domestic destinations such as Goa, Varanasi, Srinagar, Port Blair and Leh between February and May. Internationally, travellers favoured the UAE, Thailand, Malaysia, Singapore, Indonesia and Sri Lanka.
In particular, women traveling alone increased by 47%, while men traveling alone increased by 39%. Thailand and Malaysia saw a four-fold increase in popularity among solo travellers, and Nepal saw a three-fold increase in bookings. “The increased involvement of women in solo travel reflects a positive change in the Indian travel and tourism market,” Scapia noted, attributing this to advances in technology, improved safety and travel information accessible online.
Even lesser-known destinations such as Penida Island in Indonesia, Nonthaburi in Thailand and Kowloon in Hong Kong have gained popularity among travelers this summer.
Despite initial turbulence in 2024, when some Scapia customers faced credit limit reductions from the Federal Bank, the company has recovered. Founded in 2022 by former Flipkart executive Anil Goteti, Scapia has raised $23 million in a funding round led by Elevation Capital and 3STATE Ventures, with participation from Matrix Partners India and Tanglin Venture Partners.
Tags: Airlines news, Fincard, Hong Kong, India, Asian Malaysia, Malaysia, Solo travel, Thailand, Tourism, Tourism News, Voyage, Travel credit card, Travel News
