GoSats, a Bengaluru-based asset-reward platform, has raised $5 million (about Rs. 42 crore) in a Series A round led by Konvoy, with participation from Y Combinator, Taisu Ventures and several angel investors. The fresh capital will support user acquisition, product expansion and AI-driven personalisation across the platform.
Use of funds and strategic priorities
According to the company, the funds will be deployed to accelerate customer growth, broaden its fintech product suite with enhanced reward experiences, and invest in artificial intelligence to personalise offers and engagement. GoSats also plans to reinforce teams in engineering, product and growth to scale operations.
Business model and offerings
Founded in 2020 by siblings Md. Roshan and Roshni Aslam, GoSats enables users to earn Bitcoin and gold as rewards on everyday transactions. Customers can accumulate and store Bitcoin through online purchases, gift cards and a prepaid payment instrument (PPI) card, positioning the startup as an on-ramp to digital assets for mainstream users.
Performance metrics and partnerships
The startup reports processing an annual gross merchandise value (GMV) of $40 million (about Rs. 360 crore) and distributing over Rs. 50 crore worth of Bitcoin and gold rewards since inception. It counts major commerce and tech partners among its collaborators, including the likes of Google and Flipkart.
Growth roadmap
GoSats plans to introduce additional fintech products and expand its reward ecosystem to include new asset classes. The company aims to deepen integrations with fintech platforms and consumer brands to make alternative assets more accessible and to bridge the gap between traditional finance and the digital economy.
Funding history
- Seed funding: $700,000 in 2021
- Pre-Series A: $4 million in June 2022
- Series A: $5 million in 2026 (led by Konvoy)
