Asset-based rewards platform GoSats has raised $5 million (approximately Rs 42 crore) in a Series A funding round led by Konvoy, with participation from Y Combinator, Taisu Ventures, and several angel investors.
The Bengaluru-based startup had previously secured $4 million in a pre-Series A round in June 2022 and $700,000 in seed funding in 2021.
According to a press release, the fresh capital will be used to accelerate user acquisition, expand its fintech product suite with enhanced reward experiences, invest in AI-driven personalisation, and strengthen teams across engineering, product, and growth.
Founded in 2020 by siblings Mohammed Roshan and Roshni Aslam, GoSats enables users to earn Bitcoin and gold rewards on everyday purchases. The platform allows users to accumulate Bitcoin through online shopping, gift cards, and a prepaid payment instrument (PPI) card, positioning itself as a gateway to digital assets.
The company plans to launch additional fintech offerings and expand its rewards ecosystem to include new asset classes, alongside deeper integrations with consumer brands and fintech platforms.
GoSats aims to bridge traditional finance and the digital economy by enabling users to earn asset-based rewards on daily spending, offering a simplified way to access alternative assets.
The platform currently processes an annualised gross merchandise value (GMV) of $40 million (around Rs 360 crore) and has distributed over Rs 50 crore in Bitcoin and gold rewards since inception. It has partnered with major brands such as Flipkart and Google.
-Entrackr