Gullak is a financial platform that enables users to automate daily savings and invest in digital gold, providing a secure and user-friendly way to build wealth over time. By allowing users to set up automatic payments and invest small amounts starting from ₹50 per day, Gullak addresses the challenge of inconsistent saving habits and low returns from traditional savings accounts.
Funding
$7.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BCFounders
Product
Problem
Many individuals struggle to consistently save money due to a lack of discipline and the inconvenience of traditional savings methods, resulting in missed opportunities for wealth accumulation. Traditional savings accounts often provide low returns, failing to keep pace with inflation and limiting long-term financial growth.
Solution
Gullak offers a platform that automates daily savings and facilitates investment in digital gold, providing a secure and accessible way for users to build wealth. By enabling users to set up automated savings plans with amounts as low as ₹50 per day, Gullak removes the barriers to entry for new investors. The platform allows users to effortlessly save small amounts regularly, fostering consistent saving habits. Gullak also offers the option to lease gold with trusted jewelers to earn extra returns, potentially exceeding market returns. Users can withdraw their savings as cash or physical gold, providing flexibility and control over their investments.
Target Audience
Gullak primarily targets young adults and working professionals in India who are looking for a convenient and accessible way to start saving and investing in gold, particularly those who are new to investing or find it difficult to save consistently.
Features
- Automated savings plans with customizable daily contributions starting from ₹50
- Investment in 24K digital gold with assured purity and security
- Option to earn extra returns by leasing gold to trusted jewelers through the Gold+ program
- Physical gold delivery to the user's doorstep
- Option to transfer funds to a selected UPI ID upon selling gold
- Instant withdrawals as cash or physical gold
- Rewards and incentives for consistent daily savings
- Integration with UPI AutoPay for seamless and automated savings
- Referral program offering rewards for both referrer and referee