Gullak Money is a fintech mobile app based in India that automates savings and invests users' money in digital gold. By leveraging India's Unified Payments Interface (UPI) Autopay infrastructure, Gullak Money allows users to set aside small amounts (as low as $1/day) that are seamlessly invested in digital gold, making wealth creation more accessible for the average Indian saver.
Gullak Money's founders previously built large-scale payment systems, including the BHIM UPI app, and have experience scaling consumer fintech products for major partners like Google Pay and Amazon. Since launching, Gullak Money has quickly grown to 40,000 transacting users with a $280K monthly gross transaction volume, reflecting strong traction among India's digitally savvy savers.
What technology enables Gullak Money?
Gullak Money's offering is built on top of India's UPI Autopay infrastructure, which only recently made recurring, automatic micro-savings possible. This allows Gullak to eliminate much of the friction historically associated with gold savings in India—such as manual deposits, minimum ticket sizes at offline gold stores, and storage logistics. Users can now automate small, daily contributions to digital gold, benefiting from both gold's cultural significance and its historical returns that often exceed those of traditional bank deposits.
Who uses Gullak Money?
Gullak Money primarily targets India's 200 million manual savers—middle-income individuals and households who typically save in low-yield bank deposits. The platform is designed for users who want to build wealth but have found traditional gold buying inconvenient or inaccessible due to high minimums and logistical barriers. By enabling digital gold investments through micro-savings and automation, Gullak Money appeals to a wide base of tech-enabled Indian consumers seeking better returns and convenience.
Who are Gullak Money's competitors?
Gullak Money operates in the growing digital gold savings app market in India. Key competitors include:
- Jar: A savings app that enables users to invest in 24K gold on a daily, weekly, or monthly basis, with a focus on micro-savings and automated deposits.
- DigiGold: A trusted platform for buying, selling, and storing digital gold and silver at live market rates, catering to online gold investors.
- Aura Gold: A platform for investing in digital gold, aimed at helping users grow their savings through gold investments.
These platforms share Gullak's emphasis on digital gold savings, with differences in user experience, automation, and fintech integrations.
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