Bitcoin rewards startup GoSats raises $4 mn in Pre series A funding

• ByStartupStory     |    June 1, 2022

Gosats, which is a bitcoin reward platform has recently raised $4 Mn in pre series A funding led by Gossamer Capital, Accel and Y Combinator.

Participation from other platforms was also seen like DG Daiwa Ventures,Draper Dragon, KubeVC, 2am VC, Valhalla Capital, C2 Ventures and others. They aim to utilise these funds for product improvements, adding brands and to raise its operations, other than this they are also planning to develop a cryptocurrency reward API services for apps that count crypto assets as loyalty points.

GoSats enables variable cashback on every card spend. The bitcoin wheel is activated on every swipe. When the wheel spins, bitcoin rewards are instantly credited to your GoSats account, said Gostats.

Founded in 2020 by Mohammed Roshan and Roshni Aslam that enables users to receive cryptos as cash-backs by doing transactions from the company’s app or Go stat prepaid card. Their motive is to make bitcoin very accessible and comfortable for the users and want to build an environment where people can gain bitcoin while doing shopping at their favorite brands.It has a total 150,000 users but is aiming to reach the user base to 1 million. The company raised $700,000 in the seed funding round in August,2021.

“We will use funds to build an infrastructure for users to seamlessly earn free Bitcoin everywhere they shop, enable users to stake their Bitcoin and earn attractive yield, have them spend their rewards on brands, NFTs and play to earn games all within the GoSats app”, said, Mohammed Roshan, CEO, and co-founder of GoSats.

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