GoSats Raises USD 5 Mn in Series A Funding Round

Asset-based rewards platform GoSats has raised USD 5 million (approximately INR 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 earlier secured USD 4 million in a pre-Series A round in June 2022 and USD 700,000 in seed funding in 2021.

The fresh capital will be used to accelerate user acquisition, expand its fintech product suite, enhance 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. Users can accumulate Bitcoin through online shopping, gift cards, and a prepaid payment instrument card.

The startup plans to roll out additional fintech offerings and broaden its rewards ecosystem by adding new asset classes. It also aims to deepen integrations with consumer brands and fintech platforms.

GoSats seeks to bridge traditional finance and the digital economy by offering access to alternative assets through daily spending.

The platform currently processes an annualised gross merchandise value of USD 40 million (around INR 360 crore) and has distributed over INR 50 crore in Bitcoin and gold rewards since inception. It has partnered with major brands such as Flipkart and Google.