Source: TechCrunch
Summary
Scapia, an Indian startup, has raised $100 million from Apollo Global Management, doubling its valuation. The company combines travel booking with co-branded credit cards and mobile payments. Scapia said the investment will help it expand its services and reach more customers.
Our Reading
The launch follows a familiar script.
Scapia combines travel booking with co-branded credit cards and mobile payments. The company has raised $100 million from Apollo Global Management, because who doesn’t want to pay for travel with a credit card? The deal doubles Scapia’s valuation, because that’s what investments do. Scapia will use the funding to expand its services, because that’s what companies do with money. Scapia is just what the travel industry needed: another co-branded credit card.
Author: Evan Null
