Indian crypto rewards platform GoSats has raised $5 million in Series A funding, led by Konvoy with participation from Y Combinator and others.

CoinFeed reported on April 7th that GoSats, an Indian crypto rewards fintech platform, 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, boasting an annualized gross merchandise volume (GMV) of $40 million and distributing over $53,700 (approximately 500 million Indian Rupees) in Bitcoin and gold rewards since its inception. This 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 linking Bitcoin and gold rewards to everyday spending, GoSats lowers the barrier to entry for new users in the cryptocurrency space while simultaneously putting competitive pressure on traditional loyalty programs.