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Gullak Money

Gullak Money

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Gullak automates savings & invests these in gold

Gullak is a mobile app that automates savings & invests these in Gold. We launched in India 60 days ago and have grown from 0 to 40k transacting users and hit a monthly GTV of $280K already. We are growing 25% week on week. India is a nation of savers but the way the majority of India saves is non-smart & does not create wealth. There are 200 Mn Indians who save manually in bank deposits, the returns from these instruments do not even beat India's inflation. Gold is an instrument that India loves - 30Bn worth gold is purchased in India every year by middle income households. Gold has great cultural significance in India & there is high familiarity with the asset class. 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. This is largely because the ways to save in Gold required painful discrete activities such as manually accumulating money to buy gold, going to offline stores to buy this gold, incurring storage charges & more. The minimum ticket size for purchasing gold at these stores is $50 adding to more friction to saving in Gold. Using automated savings, Gullak now makes it extremely easy for users to save small amounts regularly($1/day) in digital Gold.This was not possible a year ago because the underlying infrastructure(UPI Autopay) was missing. With 50 Mn Indians saving $2/day & with gold backed lending, this is a $1.5Bn market opportunity. Gullak’s Founding team is the team which built BHIM UPI App(10Mn Downloads in 10 Days), this was launched by the PM of India. We built large scale payment systems for partners like GooglePay / Amazon, processing more than 30Mn payments/day. This is the same team that has built more than 40+ consumer brands & their initial growth strategy.

Company Launches

Gullak - Automated savings app designed for India

Gullak is a mobile app that automates savings & invests these in Gold
Read Launch ›
Gullak Money
Founded:2022
Team Size:15
Location:Bengaluru, India

Active Founders

Naimisha Rao

Naimisha is the co-founder at Gullak Money, leading growth & marketing. Prior to this, she was head of growth marketing at Twin Health - a Sequoia funded Series C company where she handcrafted their growth strategy, contributing to 80% of Twin’s revenue then. Prior to that, she has worked on 40+ brand’s growth/marketing strategies & executed a lot of these strategies herself.

Naimisha Rao
Naimisha Rao
Gullak Money

Dilip Jain

Dilip Jain
Dilip Jain
Gullak Money

Manthan Shah

Manthan Shah
Manthan Shah
Gullak Money