Ex-Facebook, Amazon Video execs join $1.6m round of Singapore fintech startup

Singapore-based Fewcents, a fintech startup that provides alternative monetization solutions for digital publishers and creators, said it has raised US$1.6 million in seed funding.

Fewcents co-founders Dushyant Khare (left) and Abhishek Dadoo / Photo credit: Fewcents

The round saw participation from VC funds M Venture Partners and Hustle Fund, as well as angel backers including former DBS Bank chairman Koh Boon Hwee, ex-Facebook Southeast Asia managing director Kenneth Bishop, and former Amazon Video India director and country head Nitesh Kripalani.

Fewcents offers a pay-per-content portal that unbundles and helps monetize premium content, including articles, videos, and podcasts. Digital publishers and creators can embed the feature on their sites, serving as another source of monetization alongside advertisements and subscriptions.

The startup said it will use the new capital to further enhance its solution and expand its business footprint globally. Fewcents is currently working with platforms across Asia and Europe, including Dainik Jagran, DailySocial, Quintype, and Dailymotion.

“In recent times, users are willing to pay for quality content more than ever,” said Fewcents co-founder and CEO Abhishek Dadoo. “However, users won’t subscribe everywhere and hence willingness to commit to monthly subscriptions hovers between 1% to 5% of active users for any single publisher.”

Prior to Fewcents, Dadoo also co-founded online-to-offline attribution platform Shoffr, which was acquired by Affle before going public in 2019. He started Fewcents with Dushyant Khare, who formerly led partnerships for Google with regional publishers in addition to working for companies such as SAP Ariba and American Express.