Singapore-born “FinTech-for-Media” startup, Few¢ents, providers of digital solutions to publishers for content monetisation, raises US$1.6 million in seed funding, which will deployed to consolidate the company’s proprietary pay-per-content solution and expand business operations.
Few¢ents’ solution is a pay-per-content service that stays on publisher’s websites and helps digital publishers monetize their content like articles, videos, and podcasts, accepting 50 currencies from around the world.
Venture capital funds M Venture Partners & Hustle Fund, angel investors like Koh Boon Hwee, former Chairman of DBS Bank, Kenneth Bishop former Managing Director, Southeast Asia, Facebook, Jeremy Butteriss, Partnerships, Stripe, Shiv Choudhury, Partner and Managing Director, the Boston Consulting Group, 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 participated in this round of investment.
Abhishek Dadoo and Dushyant Khare, founders of Few¢ents come with experience in ad-tech and digital publishing. Dadoo, ex-founder mobile advertising platform Shoffr and Khare developed Few¢ents to make it easy for platforms to monetize content. Abhishek Dadoo said “monthly subscriptions hovers between 1% – 5% of active users for any single publisher” and there is a need for simpler ways to pay for content from publishers in their users’ local currencies.
Dushyant Khare said that this solution “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.”
Few¢ents is currently working with publishers and media platforms across Asia and Europe such as India’s vernacular dailies Sakal and Dainik Jagran that have a readership of over 10 million and 55 million respectively. Their client in Indonesia include technology news platform DailySocial, and digital publishing solutions provider Quintype. They have also integrated with Dailymotion, the global streaming solution.