Singapore-born FinTech that provides alternative monetisation solutions for digital publishers and creators Few¢ents landed $1.6m in seed funding.
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.
Other investors like Jeremy Butteriss of Stripe, managing director of the Boston Consulting Group Shiv Choudhury, former APAC Regional sales director of Bloomberg Media Distribution Francesco Alberti, Summit Media president Lisa Gokongwei-Cheng, Dentsu managing director Prantik Mazumdar and founder of Mission Holdings Saurabh Mittal also participated in this round of investment.
The funding will be deployed to consolidate the company’s proprietary pay-per-content solution and expand its business footprint globally.
Few¢ents’ platform, which provides digital solutions to publishers for content monetisation, helps digital publishers monetise their content like articles, videos and podcasts serving as another source of monetisation alongside advertisements and subscriptions. The platform can be embedded on by publishers and creators on their sites and accepts 50 currencies from around the world.
The firm aims to support the media and creator industry at large by helping publishers refocus efforts on producing high-quality content and move away from just centring on maximising page views.
The firm already boasts of clients such as India’s Dainik Jagran, which has a readership of 55 million, Indonesian news site DailySocial and streaming video site Dailymotion. The company also struck a partnership with Jnomics Media to expand in Europe.
Commenting on the funding, Few¢ents CEO Abhishek Dadoo 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% to 5% of active users for any single publisher.”
Prior to Few¢ents, Dadoo also co-founded online-to-offline attribution platform Shoffr, which was acquired by Affle before going public in 2019. Few¢ents co-founder Dushyant Khare formerly led partnerships for Google with regional publishers in addition to working for companies such as SAP Ariba and American Express.
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