Gullak raised a $1.3 Million, the Savings-investment application


On Friday, the startup will be deploying the capital for marketing purposes and growth.

The startup was participated in by JusPay, Hyperface, Maya Kunnath, UniCards, and Rippling.

The Company Gullak , was founded in the month of  January in the current year by JusPay executives named, Manthan Shah, Dilip Jain, and Naimisha Rao. Gullak helps its users to save small amounts on a regular basis and automatically invests them in digital gold.

In May 2022, the startup officially introduced the latest version of its application and has garnered nearly 9,000 users to date, which is transacting 1,000 transactions per day.

In the upcoming months, Gullak is planning to include one lakh monthly active users and 10 lakh gross transaction value per day. 

Bring out the habitual

JusPay with the help of both of the founders had created a new idea for a fintech venture. The third co-founder of the company, Naimisha met them via a business network. Their initial interactions resolved the problem of financial ignorance among the people. They realized that India is a widespread country that is facing non-smart financial investments.

Put it in the company of “Gullak”

Gullak application features have two major saving options. Firstly, it is a recurring savings option that permits users to save a fixed amount daily or monthly. It can also mandate through the UPI autopay, enabling automatic micro-savings.

Secondly—the save on each spending option—rounds up the user’s daily transactions to the nearest 10’s and automatically gets invested into gold.

Gullak plans to grow its revenue by using an in-app purchase and subscription variant, which it will launch soon.

Gullak also facilitates various features, like a one-time top-up feature that permits users to add a lump sum amount to boost their savings. Users can also stop their automated savings or withdraw the money at any time with just one click.

Tags : Gullak, StartupsDekho