StartUps

Bitcoin modernizes shopping

Roshni Aslam, an Indian entrepreneur from Bangalore, is the Co-founder and Head of Finance at GoSats, India’s pioneering Bitcoin rewards platform. After graduating with a M.Sc. in Finance from the University of Strathclyde, UK, Roshni gained valuable experience as an investment analyst at Alphabit, a cryptocurrency investment fund, and later as a Senior Research Analyst at ONEX AE in Dubai. With a vision to simplify Bitcoin adoption, Roshni and her brother Roshan founded GoSats in February 2021. Co-founded by Mohammed Roshan and Roshni Aslam, GoSats provides a seamless way for users to earn Bitcoin while shopping from over 120 popular brands, including Flipkart, Nykaa, and Swiggy. Users can easily access GoSats through the mobile app or Chrome extension, making purchases via UPI or credit/debit cards. Roshni Alam in conversation with Surabhi Goel about GoSats, how it began, and more.

What inspired you to co-found GoSats, India’s first Bitcoin rewards platform, and how did you envision its role in the crypto ecosystem?

The inspiration behind GoSats stemmed from my passion for Bitcoin and finance and the desire to make it accessible to everyone in India. I believe Bitcoin is a valuable asset and wanted to offer a simple way for people to earn it while shopping. We aim to introduce Bitcoin to a broader audience by providing Bitcoin rewards instead of traditional cashback. In the cryptocurrency ecosystem, we envision GoSats as a leading platform in India. Our recent launch of a Visa card allows users to top up their card with Bitcoin, further integrating earning and spending in the crypto space. We aspire for GoSats to be positioned among the top companies in India, facilitating the widespread adoption of Bitcoin.

As a female entrepreneur in the crypto industry, what challenges did you face while establishing GoSats, and how did you overcome them?

I was fortunate not to face the typical challenges many women encounter. However, I did encounter difficulties in product development, idea creation, fundraising, and navigating legal aspects. Despite these challenges, I persevered and overcame them to establish GoSats successfully.

How does GoSats simplify the process of earning Bitcoin through online purchases, making it accessible and straightforward for users?

Download the GoSats app from the App Store or Google Play Store and complete the registration process, including KYC.
Browse the list of 120+ partnered brands on the app and choose where to shop.
Users can purchase vouchers from brands like Myntra or Nykaa or opt for the GoSats card for a hassle-free experience.
To get the card, users need to select either the Intro or Elite card, complete the KYC process, and make the payment. The Elite card costs ₹999, and the Intro card costs ₹399; within 10 days, the physical card will be delivered to the address.
Users earn Bitcoin through purchases, which are stored in their GoSats wallet. However, for security, a third-party operator securely holds the Bitcoin.
Shop as usual, and GoSats will reward Bitcoin based on the merchant’s fees from the backend. Even when using the GoSats card, users can earn Bitcoin without affecting their transaction amounts.
Every Wednesday, GoSats processes withdrawals for users. For example, if a user has earned 100,000 sats (equivalent to 0.001 Bitcoin), they can request a withdrawal.

What strategies has GoSats employed to attract and retain users, particularly in a market where cryptocurrency adoption may still be emerging?

To attract and retain users in an emerging cryptocurrency market, GoSats has strategically expanded its brand partnerships to include popular retailers like BigBasket and Shopee, responding to user preferences and feedback. In addition to Bitcoin rewards, the platform introduced new asset classes such as gold, catering to diverse user interests and enhancing engagement. Looking ahead, GoSats aims to offer a broader range of asset classes as cashback options, providing users with more rewarding and diversified investment opportunities.

As the Head of Finance, how do you contribute to shaping GoSats’ financial strategies and ensuring sustained growth in the dynamic cryptocurrency landscape?

I oversee operational and marketing budgets, including influencer campaigns, to ensure efficient resource allocation and sustained growth. I analyse financial reports, such as burn rates, to monitor spending and identify opportunities for revenue enhancement. Recently, we’ve initiated strategies to introduce new campaigns to boost revenue and optimize financial performance in the dynamic cryptocurrency landscape. With over half a million users since its inception, GoSats has grown significantly. A year ago, the launch of the GoSats card further enhanced user benefits, resulting in over 25 Bitcoin distributed to users and processing over $1,000,000 in annualized shopping volume.

Quick Q&A

Which finance book is your favourite?

Rich Dad Poor Dad by Robert Kiyosaki made a significant impact on me. It broadened my understanding of economics and money, prompting deeper reflections on financial matters.

What hobbies or interests beyond finance enhance your professional performance?

I prioritize exercise, aiming for 3-4 sessions weekly. Reading and cooking are also my hobbies. These activities contribute to my mental well-being, enhancing my productivity at work.

Do you have any favourite strategies for staying financially organized in your personal life?

Keeping track of expenses is crucial for a financial organization. Whether through an Excel sheet or a written record, monitoring spending helps maintain control. Budgeting, instilled in me by my mom, is vital.

How do relationships and networking impact your finance career, and whom do you enjoy interacting with professionally?

Interacting with my team members is invaluable, especially during brainstorming sessions for different strategies. Additionally, discussing ideas with my co-founder, who is also my brother, greatly contributes to my professional journey.

Your inspiration?

My mom is my role model. About 20-25 years ago, she was involved in currency trading and stocks in Muscat. Her passion for finance inspired me, although she never pushed me. Just seeing her excitement and hearing her stories influenced me subconsciously.

February 28, 2024

bitcoin, Roshni Aslam

House of Creativity: Sinha Brothers Redefine India’s Art Scene with a Legacy-Fuelled Vision

In a world where creativity often competes with commerce, LUV and KUSSH SINHA are merging both purpose and passion. Drawing from their rich cinematic heritage and a lifelong connection to the arts, the Sinha twins have launched The House of Creativity (HOC) a platform dedicated to showcasing and supporting contemporary Indian artists. Their goal is to democratize access to visual art, giving emerging talents a space to thrive while also expanding the reach of Indian artistry on a global stage. In conversation with SINDURI VUPPALA, the duo shares how their entrepreneurial journey is not just about art, but about creating a movement that celebrates originality, honours legacy, and nurtures the future of India’s creative community. 1. Can you take us back to when your relationship with visual art truly began? Luv: My relationship with visual art began at a very young age. I was deeply influenced by Hindi cinema the films my father acted in, those of Mr. Bachchan, and other legends. As I grew older, Japanese animation, video games, and comic books also left a huge impression on me. Each artist, every inker, has their own style those differences fascinated me. Film too, being a moving image, played a huge role. Pause it, and it becomes a photograph. That connection influenced me tremendously. 2. What led to the birth of the House of Creativity? Was there a defining moment or conversation? Luv: It started with conversations at home during the lockdown. I kept thinking about the number of immensely talented artists who just don’t have a platform. Art can be an exclusive world, but coming from the film industry, I felt we could help expand its reach. The idea of starting digital-first made sense due to restrictions, but our long-term vision is definitely to open physical galleries and make

StartUps

Why Piyush Goyal’s Note Strikes a Chord with Many

In a fast-paced economy where entrepreneurship is often glamorized and unicorn status is considered the ultimate goal, Union Minister Piyush Goyal’s recent cautionary note to start-ups has sparked conversation across boardrooms, social media feeds, and co-working spaces alike. At a time when headlines celebrate billion-dollar valuations and multi-million funding rounds, Goyal’s reminder to prioritize sustainability over vanity metrics comes as both a wake-up call and a much-needed dose of realism. What Did Piyush Goyal Say? While addressing a forum of young entrepreneurs and start-up founders, the Commerce and Industry Minister highlighted the growing trend of start-ups focusing more on valuation than value creation. He advised founders to stay grounded, reminding them that real impact lies in solving problems, building sustainable models, and creating employment — not just in raising capital or reaching the next funding milestone. Why It Resonates 1. The Valuation Bubble India has witnessed a boom in the start-up ecosystem over the last decade, becoming the third-largest start-up hub in the world. However, this rapid rise has also led to the emergence of overvalued unicorns, many of which struggle to generate profits or even break even. Goyal’s words hit home because several start-ups that once shone brightly have now either shut down or drastically downsized. 2. Funding Winter & Layoffs In the past year, a noticeable funding winter has taken a toll on many start-ups. With VC purse strings tightening, companies have been forced to lay off thousands of employees, scale back operations, and rethink their business models. Goyal’s comment serves as a timely reminder that blind growth can be dangerous without a stable foundation. 3. Founders Facing Burnout The hustle culture in start-up circles often glorifies 20-hour workdays and constant “grind” mentality. However, a growing number of founders are speaking out about mental health challenges, anxiety, and burnout. Goyal’s emphasis on sustainable growth also indirectly supports a healthier entrepreneurial mindset — one that doesn’t chase

StartUps

Water Warriors

The harsh summer of 2024 is a stark reminder that there is an urgent need to conserve the elixir of life: water. So, what is causing the water crisis, and how does one mitigate its impact? Climate change, high contamination of water, over-exploitation of groundwater, deforestation, reduced rainfall, and increased agricultural demand are some of the main reasons for water shortage. However, while the water situation seems stark, there is a silver lining on the cloud as many water-saving ventures seek to make a difference. Bindu Gopal Rao highlights several of these impactful initiatives. Water Warriors Bala Vikasa, Telangana Bala Vikasa is an NGO pioneering community-driven sustainable development activities in seven states, impacting about eight million people. A significant initiative they have is to provide access to safe drinking water at an affordable price of Rs 3-5 per 20 litres to rural communities suffering from high fluoride content in the available groundwater. Most small and marginal farmers rely heavily on natural freshwater resources for irrigation. However, groundwater depletion and low rainfall in urban and suburban areas have led to severe water scarcity, pushing farmers into a vicious cycle of debt due to reduced crop quality and yield. “In response to the struggles of farmers in rural Telangana, Bala Vikasa, founded by André Gingras (90) and Bala T. Singareddy (83), launched a pioneering farm pond construction program in 2015. This initiative, supported by CSR partners, aims to help farmers conserve rainwater, meet their irrigation needs, and replenish groundwater,” says Shoury Reddy Singareddy, Executive Director, Bala Vikasa. The program began in Ontimamidipally village, Warangal District, in 2015. In 2019, Bala Vikasa extended support to farmers in the suburbs of Hyderabad, following requests from the farmers of Upplingapur village, Medchal. This expansion underscores the program’s success and vital role in promoting sustainable agricultural

StartUps

The Timeless Allure of Crystals: Do they help?

Crystals have captivated humanity for millennia, their ethereal beauty and purported mystical properties drawing people from all walks of life. These natural treasures, long admired for their beauty, are experiencing a global resurgence. Let’s explore the reasons behind this trend and dive deep into the world of crystals, examining their allure and purported properties through the eyes of Akshay Gund, a passionate crystal collector in India and founder of Kaivalya—House of Crystals. Mehak Walia, in conversation with Akshay Gund, the founder of Kaivalya – House of Crystals and the passionate crystal collector, about the essence and reason crystals are trending. Crystals Journey Discovering a New Path Akshay Gund hails from Pune, where his academic journey began with a fascination for animals, leading him to study zoology at Wadia College. This interest in the natural world evolved into a more profound curiosity about digital mapping, which he pursued at the Symbiosis Institute through a postgraduate degree in Geo-Informatics. However, his true calling emerged in a rather unexpected domain—crystals. “Initially, I started making videos on YouTube, educating people about crystals and minerals and showing them how to find these beauties in nature,” Akshay shares. The positive response and the feedback he received highlighted a disturbing trend in the Indian crystal market: exorbitant prices and counterfeit products. This realization sparked the creation of Kaivalya – House of Crystals in 2022, a venture aimed at providing genuine, affordable crystals while educating the public about their true nature. The Essence of Crystals As Akshay explains, crystals are semi-precious rocks formed over millions of years through crystallization. This natural phenomenon results in unique structures and formations, much like diamonds. Crystals’ allure lies in their beauty, which is why they are trending today. From holistic health and alternative medicine to spiritual practices and aesthetics, crystals have found