Key Highlights :
Gullak raised $7.5 million in Series A funding to scale in tier II and tier III Indian cities and increase jeweller partnerships.
Customers can save in digital gold through SIPs or round-ups and redeem savings in the form of jewellery purchases, gold coins, or cash transfers.
The company has registered robust traction with over 1,000 kg of gold bought, 80% retention rate, and over one million app installs.
Key Background :
Gullak is a 2022-founded company with the vision of streamlining gold investing and making it convenient for common users. The company centers on micro-saving by enabling customers to invest small amounts in gold automatically using UPI autopay or rounding up transactions, allowing even beginners to develop regular saving habits.
Its innovative model of redemption providing jewellery buys, delivery of gold coins, or full cash withdrawals has served to draw a broad audience and establish credibility, particularly among families looking for the traditional safety of gold with the convenience of a digital entity.
The growth of the startup has been swift, with buyers buying more than a thousand kilograms of gold in a matter of years since inception. Average monthly savings per customer are around ₹7,000, reflecting good engagement and user trust. Gullak’s 80% annual retention rate and high organic user acquisition highlight the product’s popularity without strong reliance on paid advertising.
Prior to the recent round, Gullak had previously raised more than $4 million in its pre-seed and seed rounds from top investors such as international venture funds and startup accelerators. The newly injected $7.5 million will enable the firm to scale up in India’s tier-three cities, where gold remains deeply entrenched in cultural and economic significance.
Targeting tier II and III markets, Gullak hopes to reach a vast untapped segment of customers who consider gold a safe savings option but are perhaps not yet convinced to fully utilize digital investment platforms. The company plans to improve technology, strengthen jeweller partnerships, and promote awareness campaigns to make gold savings as easy as daily digital payments.
With this capital, Gullak is emerging as a leader in digital gold savings by combining India’s long-standing love of gold with the increasing popularity of fintech offerings.
About the Author
Abhishek Roy
Abhishek Roy is a Managing Editor at Business Minds Media India.
