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 several angel investors. GoSats offers users Bitcoin and gold rewards, with an annualized total transaction value of $40 million. Since its inception, it has distributed more than $53.7k (about 500 million Indian Rupees) in Bitcoin and gold rewards. This round of funding will be used for user growth, development of new fintech products, AI-based personalized services, and 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 on traditional loyalty programs. In India’s complex cryptocurrency 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 a 2022 report, it was said that Bitcoin rewards company GoSats completed a $4 million Pre-A round, with participation from Y Combinator and others. (Source: PANews)