Fewcents raises $1.6 mn from M Venture Partners, Hustle Fund and others

By: |
May 10, 2021 4:38 PM

Singapore-based Fewcents on Monday said it has raised USD 1.6 million (about Rs 11.7 crore) in funding from M Venture Partners, Hustle Fund and others.

The funds will be primarily used to enhance the company's proprietary pay-per-content solution and expand its business footprint globally. (Representational Image)

Singapore-based Fewcents on Monday said it has raised USD 1.6 million (about Rs 11.7 crore) in funding from M Venture Partners, Hustle Fund and others. Fewcents is a fintech-for-media startup that provides solutions for digital publishers and creators to monetise their content. The seed round saw participation from angel investors such as Koh Boon Hwee (former Chairman of DBS Bank), Kenneth Bishop (former Managing Director, Southeast Asia, Facebook), Jeremy Butteriss (Partnerships, Stripe) and Shiv Choudhury (Partner and Managing Director, the Boston Consulting Group), a statement said.

Francesco Alberti (former APAC Regional Sales Director, Bloomberg Media Distribution), Lisa Gokongwei-Cheng (President, Summit Media), Prantik Mazumdar (Managing Director, CXM Group, dentsu International Singapore), Saurabh Mittal (Chairman and Founder, Mission Holdings) and Nitesh Kripalani (former Director and Country Head, Amazon Video India) also participated, it added.

The funds will be primarily used to enhance the company’s proprietary pay-per-content solution and expand its business footprint globally, the statement said.

“In recent times, users are willing to pay for quality content more than ever. However, users won’t subscribe everywhere and hence willingness to commit to monthly subscriptions hovers between 1-5 per cent of active users for any single publisher. Quality content is getting more and more fragmented and hence users seek a simpler way to micro-pay across publishers, especially in their local currency,” Abhishek Dadoo, co-founder and CEO of Fewcents, said.

Through its solution, Fewcents helps digital publishers unbundle and monetise premium content, including articles, video and podcasts, via a pay-per-content service that sits on the publishers’ sites. It accepts 50 currencies, allowing publishers to monetise their global audience reach. Rich data insights also help publishers optimise price and invest in stories that resonate most with their audience.

“Fewcents provides incremental revenue to publishers. Our pay-per-content solution gives them a complementary monetisation avenue, in addition to advertisements and subscriptions. Ultimately, this helps publishers refocus efforts on producing high quality content, move away from a culture of just maximising page views and supporting the media and creator industry at large,” Dushyant Khare, co-founder and CCO of Fewcents, said.

Currently, Fewcents is working with a variety of publishers and media platforms across Asia and Europe, including vernacular dailies Sakal and Dainik Jagran in India.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Jio Fiber postpaid broadband internet with ‘zero upfront entry’ cost launched in India: Plans, pricing and all you need to know
2Global network for firms, investors, in blockchain’s decentralized finance enters India to back startups
3Kotak Mahindra Life Insurance arm expects to incur up to Rs 275 cr loss in June quarter