Bengaluru, India: Gullak, a Bengaluru-based investment and savings platform that allows users to invest in digital gold, has raised $7.5 million (around Rs 66.5 crore) in a Series
Bengaluru, India: Gullak, a Bengaluru-based investment and savings platform that allows users to invest in digital gold, has raised $7.5 million (around Rs 66.5 crore) in a Series A funding round. The round was led by Chiratae Ventures, with participation from White Venture Capital, Samved Ventures, and existing backers including Y Combinator, GMO Venture Partners, and Rebel Funds.
The funding comes at a time when digital-first savings platforms are seeing rapid adoption, especially among users in tier 2 and 3 cities, where awareness of systematic investment options is growing.
Gullak plans to deploy the new capital to strengthen brand presence, deepen partnerships with jewellers, and expand into tier II and III cities. The startup aims to provide users in smaller towns with more redemption options for digital gold, whether as jewellery, coins, or cash transfers.
The expansion strategy reflects the startup’s mission to make gold investing accessible and convenient for everyone, not just urban investors.
Founded in 2022 by Manthan Shah, Naimisha Rao, and Dilip Jain, Gullak enables users to automate micro-investments into digital gold. Key features include:
The accumulated savings can then be redeemed as jewellery from over 3,000 partner stores across 15 major chains, including Tanishq, Kalyan Jewellers, Malabar Gold, and Joyalukkas. Users can also opt for doorstep delivery of gold coins or direct cash transfers, providing unmatched flexibility.
Since its launch, Gullak has seen impressive traction:
The platform has also crossed 1 million downloads on Google Play, highlighting strong consumer demand for digital gold and micro-investment solutions.
“Our vision is to make gold savings simple, rewarding, and accessible to everyone, regardless of their location or income,” said Manthan Shah, co-founder of Gullak.
India has always been a gold-loving nation, with consumers treating it as a safe and reliable form of savings. Digital gold platforms like Gullak bridge the gap between traditional savings habits and modern fintech convenience.
By allowing users to invest in small, regular amounts, Gullak makes gold savings more approachable, especially for first-time investors in smaller towns. The redemption flexibility further ensures that savings can be converted into tangible assets whenever required.
One of Gullak’s key differentiators is its partnership network with over 3,000 stores across the country. Users can redeem their digital gold as physical jewellery from premium jewellers or opt for coins and cash transfers.
This approach not only builds trust among investors but also integrates digital savings into the broader gold ecosystem, bridging traditional and modern investment habits.
The Series A round led by Chiratae Ventures reflects strong investor confidence in the platform’s growth potential. The participation of Y Combinator, GMO Venture Partners, and other investors indicates that Gullak’s model of automated gold savings and tier 2/3 city expansion has significant market appeal.
Sahil Makkar of IndiaQuotient noted in similar digital investment trends:
“Platforms that combine convenience, trust, and accessibility for smaller cities have the potential to capture a large untapped market in India.”
Gullak’s combination of automation, micro-investments, and redemption flexibility positions it to do exactly that.
With the fresh capital, Gullak plans to:
The goal is to make digital gold a mainstream savings instrument across India, from metros to smaller towns.
Gullak’s $7.5 million Series A funding marks a significant step in India’s fintech and digital gold revolution. By combining automation, flexibility, and strong partnerships, the platform is helping users across India, particularly in tier 2 and 3 cities, save smartly and consistently.
With growing adoption and a strong user base, Gullak is well-positioned to become India’s leading gold savings platform, enabling millions to invest, save, and redeem gold effortlessly.
