PE-VC Fund Investments
Bitcoin rewards startup GoSats raises $5-M in Series A led by Konvoy
Bengaluru-based bitcoin rewards startup GoSats has raised USD 5 million (INR 47 crore) in a Series A round led by US-based venture capital firm Konvoy. The round also saw participation from existing backer Y Combinator and Web3-focused Taisu Ventures.Founded in 2020 by Mohammed Roshan and Roshni Aslam, GoSats began by providing cashback in bitcoin for online shopping and later expanded its offerings to include gold, gift vouchers, merchandise, and other loyalty programs. The company offers physical Visa cards for payments, which can be topped up with cash or existing credit cards.The new funds will accelerate user acquisition, targeting 1 million users from the current 1.5 lakh. The firm will also expand its product suite to include new asset classes, such as silver, stablecoins, and stock baskets; enhance its tech stack through AI-driven personalisation; and grow its team.
Between Aug 2021 and Jun 2022, GoSats had attracted about USD 5 M from 2AM Ventures, Accel India, C2 Ventures, Dragon Capital, Leonis VC, Soma Capital, Trampoline Ventures and others.
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