Few¢ents, a Singaporean fintech-for-media startup, announced today that it has raised US$1.6 million in a seed funding round.
Backers of the round include M Venture Partners, Hustle Fund, and angel investors including Koh Boon Hwee (ex-chairman of DBS Bank), Kenneth Bishop (ex-Managing Director, Southeast Asia, Facebook), Jeremy Butteriss (Partnerships, Stripe), Shiv
Choudhury (Partner, the Boston Consulting Group), Francesco Alberti (former APAC Regional Sales Director, Bloomberg Media Distribution), Lisa Gokongwei-Cheng (President, Summit Media), Prantik Mazumdar (Managing Director, Dentsu), Saurabh Mittal (founder, Mission Holdings) and Nitesh Kripalani (Country Head, Amazon Video India).
The company said that it will use the fresh funds for product enhancement and global expansion.
Launched last year, Few¢ents helps digital publishers monetise premium content such as articles, video, and podcasts, through a pay-per-content service that sits on the publishers’ sites. It accepts 50 currencies from around the world, 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.
As of now, Few¢ents is working with a variety of publishers and media platforms across Asia and Europe, including India’s Sakal and Dainik Jagran, Indonesia’s tech news platform DailySocial, and digital publishing solutions provider Quintype.
The company has also integrated with the global video streaming solution Dailymotion and entered a business development partnership with media consultancy Jnomics Media to expand into European markets.
“Few¢ents provides incremental revenue to publishers. Our pay-per-content solution gives them a complementary monetization 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,” shared Dushyant Khare, co-founder of Few¢ents.
“Few¢ents offers an exciting promise of transforming revenue generation for the digital media industry globally. It provides users the ability to micro-pay for valuable content while giving publishers a much-needed incremental revenue stream. All this is backed by strong technology combining fintech and mediatech with machine learning-based analytics,” said Joachim Ackermann, Director at M Venture Partners.
Image Credit: Few¢ents
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