Bengaluru, India: Imagine investing in gold without leaving your home, even if you live in a small town. That’s exactly what Gullak, a Bengaluru-based digital savings platform, is doing. The startup has just raised $7.5 million in Series A funding led by Chiratae Ventures, with participation from White Venture Capital, Samved Ventures, and existing backers including Y Combinator.
The fresh capital will fuel rapid expansion into tier 2 and tier 3 cities, strengthen partnerships with jewellers, and enhance the platform’s features, making it easier than ever for users to invest in gold digitally.
How Gullak Makes Gold Savings Effortless
Founded in 2022 by Manthan Shah, Naimisha Rao, and Dilip Jain, Gullak lets users turn spare change into digital gold. Here’s what makes it stand out:
- Micro-investments via UPI autopay – save automatically
- Gold SIPs starting at Rs 100/day – anyone can start small
- Redeem as jewellery from over 3,000 partner stores, including Tanishq and Kalyan Jewellers
- Doorstep delivery of coins or cash transfers – total flexibility
In other words, saving in gold has never been this simple.
Small-Town India Is Embracing Digital Gold
Gullak reports that each user saves an average of Rs 7,000 per month, with over 1,000 kg of gold purchased collectively since inception. The platform boasts an 80% annual retention rate, with half of its new users coming organically. Its app has been downloaded over 1 million times, proving strong adoption across urban and smaller markets.
“Our goal is to make gold investing simple, rewarding, and accessible to everyone,” said Manthan Shah, co-founder of Gullak.
Why Investors Are Excited
The Series A round led by Chiratae Ventures signals strong confidence in Gullak’s potential to disrupt India’s $100 billion gold market, especially in tier 2 and 3 cities where traditional investing options are limited.
Gullak’s combination of technology, convenience, and strong jeweller partnerships positions it as a game-changer in digital savings.
The Future of Gold Savings
With this funding, Gullak plans to:
- Expand aggressively into smaller cities
- Deepen partnerships with jewellery chains for more redemption options
- Upgrade technology and app features
- Grow user acquisition while maintaining retention rates
The aim is clear: make digital gold a mainstream savings tool for every Indian household, from metros to small towns.
Why Gullak Is a Big Deal
Gullak isn’t just another fintech app. It’s bringing the gold investment habit to the masses, helping users save automatically, invest smartly, and redeem easily. With the rise of digital-first financial habits in small towns, platforms like Gullak are poised to reshape the way Indians save in gold.
If the startup continues on this trajectory, it could become the go-to platform for gold savings across India, empowering millions to save, invest, and grow wealth effortlessly.
