India's crypto rewards platform GoSats completes $5 million Series A funding, led by Konvoy with participation from Y Combinator and others

ME News Report, April 7 (UTC+8), India-based crypto rewards fintech platform GoSats completed a $5 million Series A funding round led by Konvoy, with participation from Y Combinator, Taisu Ventures, and several angel investors. GoSats offers users Bitcoin and gold rewards, with an annualized total transaction value of $40 million, and has distributed over $53.7k (approximately 500 million Indian Rupees) in Bitcoin and gold rewards since its founding.
This funding will be used for user growth, new fintech product development, AI-based personalized services, and expansion of engineering, product, and growth teams. GoSats reduces the barrier for new users to enter the cryptocurrency space by linking Bitcoin and gold rewards to daily spending, while also creating competitive pressure on traditional loyalty programs.
In India’s complex regulatory environment for cryptocurrencies, GoSats operates its rewards products under a “Virtual Digital Assets” (VDA) compliance framework, providing users with access to the crypto asset class.
Earlier in 2022, news reported that Bitcoin rewards company GoSats completed a $4 million Pre-A funding round, with participation from Y Combinator and others. (Source: PANews)