Ex-Flipkart senior executive Goteti starts up again with travel fintech Scapia

The card, introduced in partnership with Federal Bank and based on the VISA network, can be used in over 150 countries across a million merchants, enabling users to access transactions in real-time within the Scapia app.

“Scapia aims to rewrite the narrative by offering 10% rewards on every transaction, minting these rewards into Scapia coins,” the company said in a statement. “These coins then become your ticket to the world, redeemable for flights and hotel stays across the globe, with a user-friendly, one-click redemption on the Scapia app.”

The card also offers travel benefits like zero forex markup, unlimited domestic lounge access with zero joining and annual fees.

“Scapia is more than a credit card. It’s a commitment to making travel accessible for everyone who dreams of seeing the world. It’s a new way to reward young Indian travellers,” Goteti, who was earlier a senior vice president at Flipkart, said.

Scapia, which has been in stealth mode for over a year, is Goteti’s second independent foray in the startup space. ET in January 2022 reported that Goteti’s earlier venture, Protonn, shut its business and returned over $9 million to investors, which included the likes of Matrix Partners and Flipkart cofounder Binny Bansal.

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Goteti, who headed some of Flipkart’s key businesses such as mobile, home and furniture categories, quit the e-commerce firm in November 2020 after an eight-year stint and set up Protonn the following year. The company, however, could not find the right product-market fit and the founders did not agree to pivot its business model.