Bengaluru-based fintech startup GoSats has raised $5 million (approximately ₹42 crore) in a Series A funding round led by Konvoy. The round also saw participation from Y Combinator, Taisu Ventures, and a group of angel investors.
GoSats operates as an asset-based rewards platform, allowing users to earn Bitcoin and Gold on their everyday spending. The company currently processes an annualised Gross Merchandise Value (GMV) of $40 million (around ₹360 crore) and has distributed over ₹50 crore in rewards since its launch.
The platform has partnered with major brands such as Flipkart and Google, and claims that its reward model is helping improve user retention compared to traditional cashback systems.
Speaking on the development, Mohammed Roshan, Co-founder and CEO of GoSats, said the company aims to turn everyday spending into an opportunity for wealth creation. He added that the strong response from users and the distribution of over ₹50 crore in rewards highlights growing interest in asset-based rewards among Indian consumers.
The newly raised capital will be used to expand GoSats’ user base, strengthen its fintech product offerings, and invest in AI-driven personalisation. The company also plans to grow its engineering, product, and growth teams.
Josh Chapman, Managing Partner at Konvoy, said the company has built a strong position in India by connecting traditional finance with digital assets. He expressed confidence in GoSats’ ability to scale and create a new category in the fintech space.
Looking ahead, GoSats plans to introduce new fintech products, expand its reward ecosystem to include more asset classes, and deepen partnerships with leading consumer brands and fintech platforms.
As digital finance continues to evolve in India, GoSats is positioning itself at the intersection of spending and investing, offering users a new way to build wealth through everyday transactions.
-By Shivani Solanki
