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
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.
Market
India
Location
Delaware City,
Delaware,
US
Coinvestors
Better Capital, Rebel Partners, GMO Fintech Venture Fund, Pioneer Fund