We’ve Raised $7.5M to Redefine Gold Savings for India’s Gold Lovers

By Team Gullak

Last updated : Sep 24, 2025

4 min read

Big news! We’ve just raised $7.5 Million in our Series A.

This round was led by Chiratae Ventures, with participation from White Venture Capital, Samved Ventures, and our existing backers Y Combinator, GMO Fintech Fund, and Rebel Fund, who doubled down on their support.

For us, this is not just capital. It’s fuel to take our mission deeper into India.

Why We’re Excited

Gold has always been India’s most trusted asset - worn, saved, pledged, and celebrated. But before it can be consumed, it has to be accumulated. And even today, millions still save for gold the same way their parents did in the 1980s.

We started Gullak in 2022 to change this. To make gold savings simple, seamless, and accessible to every household.

Since then,

1. Users on Gullak have already purchased over 1,000 kilograms of Gold.

2. Gullak holds the highest concentration of serious gold savers in the country.

3. On festivals like Dhanteras and Akshaya Tritiya, our single-day sales were already 2X higher than the next largest player.

These validations along with strong user insight, gives us the confidence to dream even bigger.

The Road Ahead

With this raise, our priorities are clear:

1. Brand building: so when people think of saving in gold, they think of Gullak

2. Expansion into Tier-2 and Tier-3 India: where gold demand is strongest

3. Deep jeweller partnerships: co-creating solutions that truly solve customer pain points

Our ambition is simple: To put a Gold balance on the phone of every Indian household, just like UPI did for cash.

What Makes Gullak Different

Gold isn’t just another checkbox in a super-app. It is a vertical in itself. That’s why we’ve focused only on gold, and why we’ve been able to build the trust of serious savers so quickly. Some numbers that make us proud:

1. ₹7,000 average savings per user per month

2. 80% retention at Month 12

3. 50% of new users come through word of mouth

Through our app, users can:

Our Vision with Gullak

India’s households hold an estimated 25,000 tonnes of gold, spending over $100 billion annually. With nearly 400 million households moving online, the opportunity to redefine how Indians save and buy gold is massive.

We believe this decade will see one breakout platform that becomes synonymous with gold savings. We’re working every day to make Gullak that platform.

Just the Beginning

We’re still at day zero.

In the 2020s, millions of Indians still save like it’s the 1980s. At Gullak, we’re rewriting that story, with technology, trust, and a laser focus on gold.

This fundraise is just the beginning. The real journey is ahead, and we couldn’t be more excited to build it with you.

Download the Gullak App & start saving in Gold the smart way