Founded in 2022 by Naimisha Rao, Dilip Jain and Manthan Shah, Gullak offers a gold savings app where users can set up SIPs from as little as ₹100 per day or make one-time gold purchases. The company positions itself as a neutral redemption layer, partnering with multiple major jewellery chains rather than building its own retail brand, and already supports redemptions at 5,000 outlets across India as well as doorstep delivery of gold coins and cash withdrawals. Gullak reports three lakh active transacting users who collectively have saved more than 1,000 kg of gold on the platform, with the average customer saving about ₹7,000 per month. The business currently generates $2.5 million in annual recurring revenue and has set a target of reaching $10 million ARR and one million users within the next 12 months. Revenue comes from small spreads on gold transactions and value-added services. By focusing on Tier-II and Tier-III cities, the firm aims to capture a broader middle-income demographic interested in disciplined gold investing.

Total raised

$8M

Funding rounds

1

Latest round

Series A

Latest activity

Sep 2025