Gullak Raises $7.5 Million Series A to Grow Gold Savings Startup
- Gullak raises $7.5 million in Series A led by Chiratae Ventures with support from Y Combinator and others.
- Funding will boost brand presence, expand reach in Tier-II and Tier-III cities, and deepen partnerships with jewellers.
- The startup aims to hit $10 million ARR and 10 lakh users within 12 months.
Bengaluru based gold savings startup Gullak has raised $7.5 million in Series A funding, led by Chiratae Ventures, with participation from White Venture Capital, Samved Ventures, and existing investors Y Combinator, GMO, and Rebel Funds.
The fresh funds will be used to strengthen marketing, expand into Tier-II and Tier-III cities, and build stronger partnerships with India’s top jewellers. The company has already tied up with over 5,000 jewellery outlets nationwide, allowing customers to redeem their gold savings directly in stores.
Co-founder Dilip Jain, said the goal is to scale to $10 million annual recurring revenue (ARR) and reach 10 lakh users in the next year. Currently, Gullak has three lakh active users and $2.5 million ARR.
Launched in 2022, Gullak enables users to start gold SIPs with as little as Rs 100 per day or make one-time purchases. Users have collectively saved more than 1,000 kg of gold through the app, averaging Rs 7,000 per user each month.
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Beyond digital savings, Gullak offers doorstep delivery of gold coins and cash transfers. Its strategy is to remain a neutral gold savings layer, partnering with multiple jewellery brands rather than building its own.
Founded by Naimisha Rao, Dilip Jain, and Manthan Shah, the company is positioning itself as a trusted platform for affordable, accessible gold savings across India.
