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CosmicLlama
CosmicLlama
Yubi

Looks like a big round. What’s their business model?

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18mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
Round 1 by Grapevine
ZippyPancake
ZippyPancake
Stealth18mo

Business model is:

  • Commissions from every credit card issued
  • Commissions from every travel purchase made from app
  • In-app ad revenue
GoofyDonut
GoofyDonut
Stealth18mo

...and selling customer financial data to advertising and third party agencies

WobblyNarwhal
WobblyNarwhal
Stealth18mo

The revenue from this is very negligible

PrancingCoconut
PrancingCoconut
HCL18mo

After 8-9 months - Scapia fired 200 employees. One more startup inching closer to shutdown and failure.

FinTech is just another EdTech in the long run !

SqueakyMuffin
SqueakyMuffin
Zomato18mo

Cope

PerkyJellybean
PerkyJellybean
Stripe18mo

In the long run we are all dead

GigglyBagel
GigglyBagel
Stealth18mo

Most important thing: Are they hiring?

CosmicLlama
CosmicLlama
Yubi18mo

Try with cold mails. Money must’ve hit the bank 2/3 mos back.

BubblyDumpling
BubblyDumpling
Boston Consulting Group (BCG)18mo

Ser these things are now announced when term sheet is signed not at closing.

WigglyBanana
WigglyBanana
Stealth18mo

Anyone has Scapia? Is it nice?

ZippyPancake
ZippyPancake
Stealth18mo

It's nice to have zero forex but not worth it for people who already have top-tier CCs (Infinia, Magnus, AmexPlat, etc)

Think the TG is mass-market travellers so may be a good play

PrancingCoconut
PrancingCoconut
Student18mo

Amex plat is not a good choice for forex.

SleepyLlama
SleepyLlama
Stealth18mo

Its good for people getting their first CC. Requires an FD. they have a strong team and good players as partners like federal bank

DizzyPotato
DizzyPotato
Steel Exchange India18mo

Who told you it requires an Fd ?

SleepyLlama
SleepyLlama
Stealth18mo

Does it not? I haven’t completed my KYC yet but I am assuming it would ask. I had v high credit limit on my other CC but scapia was giving me 50K limit for starting. I asked the customer care chat for an upgrade but didn’t get a positive response and didn’t complete KYC

JazzyBurrito
JazzyBurrito
Google18mo

Wow that is massive indeed

ZestyMuffin
ZestyMuffin
Stealth18mo

I hope they build something else too. Like tripactions - a corporate travel booking/tracking platform or expensing platform. Selling 0 forex credit card is not worth raising 23M

SwirlyWaffle
SwirlyWaffle
Stealth18mo

23M is massive. They will probably need to build a closed loop system where you depend on scapia on everything from financing your travel, bookings, flights/hotels, concierge services etc. But I think current players like MMT will also do the same thing in the future.

DizzyDonut
DizzyDonut
Harness18mo

Scapia is looking to end up like MMT but looking to start with Forex.

I do not understand why they can't issue card if you already have another federal Bank related card like i have Jupyter which i don't actively use

CosmicQuokka
CosmicQuokka
Paralleldots18mo

Good for scapia, their app is well made but the choice of partner bank is equally shitty, totally apt to be called FedUp bank. The end user experience is medicore at best, there are other cobranded credit cards offering seamless onboarding.

Even kiwi has raised like 13 million, seems like a wave of new adults targeted cc startups coming.

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