Gullak (Seed)
Funding Details
Awarder
WeFunder
Date Award
January 1, 2023
Vertical
Fintech and Finance
Funding URL
View Funding Page
Funding Amount
$2,200,000
Company Info
Founding Year
2023
Traction
Gullak launched in India 60 days ago and has grown from 0 to 40k transacting users, achieving a monthly GTV of $280K. The team has a successful track record in building payment systems and consumer brands.
Organizations Involved
Y Combinator, Better Capital, Rebel Partners, GMO Fintech Venture Fund, Pioneer Fund
Founders
Naimisha Rao, Dilip Jain, Manthan Shah
Market
India
Location
Delaware City, Delaware, US
Coinvestors
Better Capital, Rebel Partners, GMO Fintech Venture Fund, Pioneer Fund
Company Description

Gullak is a mobile app that automates savings & invests these in Gold. India is a nation of savers but the way the majority of India saves is non-smart & does not create wealth. Gold is an instrument that India loves, and despite gold being a familiar asset class & giving 5% higher returns than bank deposits, 200 Mn Indians still save manually in these non-wealth creating bank deposits. Using automated savings, Gullak now makes it extremely easy for users to save small amounts regularly ($1/day) in digital Gold.

Links
Website
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