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

ME News, April 7 (UTC+8): India-based crypto rewards fintech platform GoSats has completed a $5 million Series A funding round, led by Konvoy, with participation from Y Combinator, Taisu Ventures, and multiple angel investors. GoSats offers Bitcoin and gold rewards to users, with an annualized gross merchandise value (GMV) of $40 million. Since its founding, it has distributed over $53.7k (about 500 million Indian rupees) in Bitcoin and gold rewards. This funding will be used for user growth, the development of new fintech products, AI-powered personalized services, and the expansion of its engineering, product, and growth teams. By tying Bitcoin and gold rewards to everyday spending, GoSats lowers the barrier for new users to enter the cryptocurrency space, while also creating competitive pressure for traditional loyalty programs. In India’s complex crypto regulatory environment, GoSats operates its rewards products under a “Virtual Digital Assets” (VDA) compliance framework, giving users an opportunity to access the crypto asset class. Previously, 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)