Gullak Gold+: Making Gold an up to 16% Asset Class for the First Time

Date:

Trending

Gullak is a leading fintech app that helps individuals automate their savings and invest in digital gold.

- Advertisement -

The startup has now become the first platform to digitise and democratise gold leasing for easy wealth generation.

With this the app will provide its users an extra 4-5% returns p.a over Gold’s historical returns of 11% p.a on every gold investment.

- Advertisement -

After giving its users an option to automate their savings into Gold & earn up to 11% returns annually, Fintech app Gullak now launches Gullak Gold+ to give its users not 11 but 16% returns on Gold. Gullak does this by giving users an assured extra 4-5% Gold every year on top of the 11% historical returns of Gold.

Gullak Gold+ provides the latest Gold Investment Option

With this launch, Gullak becomes the first ever B2C app to give users an extra 4-5% in Gold grams every year on all Gold investments made on the app. Gullak gives the users extra returns by allowing them to lease their Gold to Indias trusted jewellers & get extra 5% interest per annum in the form of 24K Gold from these jewellers. This is also the first ever time this practice (Gold leasing) will be secured using a 100% bank guarantee from the jeweller.

“Gold leasing is a practice that has been prevalent in the offline market but is limited to a very small population (Top 0.01% of India) & the minimum quantity to lease has been upwards of 1KG of Gold. Gullak becomes the first to digitise & democratise the same. We want to give all our users secure ways to create more wealth & this is yet another step towards that,” says Dilip Jain, Co-founder, Gullak.

Jewellers prefer to get Gold metal for their working capital to protect themselves from price fluctuations & be more capital efficient. The jewellers are screened & verified by Augmont – Indias largest & most trusted fully integrated Gold player. Augmont vets the security provided by each of these jewellers as collateral for the lease & takes bank guarantee equivalent to 100% of the INR value. The jeweller coordination is done by Gullak/Augmont & the extra Gold is deposited back into users Gullak at the end of every month.

“The process to avail Gold+ is simple & can be done by anyone in 3 quick steps & in less than 5 minutes. There are no lock-ins, i.e, the user can withdraw Gold at any point – Users can withdraw as cash or get the Gold delivered at home. The minimum quantity to lease is just 0.5 grams. Gullak Gold+ returns beats returns from all other Gold instruments & becomes the best choice for anyone wishing to invest in Gold for long term,” says Manthan Shah, Co-founder, Gullak.

“The first requirement listed by the jewellers is already booked by our existing customers. We are seeing great inbound response for the product & are happy to have provided our customers with an innovative solution to create more wealth,” added Manthan Shah.

Founded in the year 2022, Gullak, a leading YCombinator fintech startup, since the launch of its app in the month of June has already made over 14 crores worth of digital gold purchases made via the app. It aims to grow by 10X by the end of this quarter.

For more information, please visit gullak.money.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

More Latest Stories

More Articles

“We Are Not America”: Canada’s New PM Mark Carney On Trump’s Comment On Making it 51st state

In his first public remarks, Canada's New Prime Minister, Mark Carney, reaffirmed Canada's independence and firmly rejected any notion that the country could ever...

US President Trump Presses NATO on Greenland Annexation Plans

During a meeting with NATO Secretary-General Mark Rutte on Thursday, US President Donald Trump argued that acquiring Greenland is essential for maintaining global stability and security. "Well, I think it'll happen. And I'm just thinking, I didn't give it much thought before, but I'm sitting...

UK PM Kier Starmer Abolishes NHS England To Bring Health Services Under Govt Control

British Prime Minister Keir Starmer has announced plans to abolish NHS England and bring...

VIDEO: US President Donald Trump Calls NBC A ‘Worst Network’ On Television

During a press meeting at the Oval Office on Wednesday, US President Donald Trump...

From Startup to Success: Essential Steps for Landscaping Entrepreneurs

Starting a landscaping business is so exciting, blending creativity with the reward of transforming...
00:02:23

‘Canada Ripping Us’: US President Trump Criticizes High Tariffs on Dairy and Lumber

U.S. President Donald Trump on Friday slammed Canada’s high tariffs on American dairy and...

Trade War: Canadian PM Justin Trudeau Announces 25% Tariffs On US Imports

Ottawa: Canadian Prime Minister Justin Trudeau on Wednesday announced a 25% tariff on U.S....

RP-Sanjiv Goenka’s Firstsource Opens ANZ HQ and AI Lab in Melbourne

Firstsource Solutions Limited (NSE: FSL, BSE:532809), an RP-Sanjiv Goenka Group company, today announced the...

The Role of Edge Computing in AI-Powered Cloud Solutions

With businesses including artificial intelligence (AI) in their operations, cloud computing has grown in significance for its administration and processing. Conventional cloud-based artificial intelligence...

Meta CPO Chris Cox Sells Shares Worth $8.3 Mn

Meta Platforms (NASDAQ: META) Chief Product Officer Christopher Cox sold 13,556 shares of the...

Meta COO Javier Olivan Offloads Shares Worth $409,768

Meta Platforms (NASDAQ: META) Chief Operating Officer Javier Olivan is set to sell 608...

Wired vs. Wireless Headsets: A Comparative Guide for Evolving Audio Needs

Across a wide range of demographics, including gamers, fitness enthusiasts, business executives, and remote...

Demand for plumbers in Oman: which specialists are most in demand?

The demand for skilled plumbers in Oman is steadily increasing due to the country's...

Meta Executive Chris Cox to Sell $13.5 Million in Shares

Meta Platforms (NASDAQ: META) Chief Product Officer Christopher Cox has filed to sell 20,000 Class A shares worth approximately $13.55 million, according to a...

Logistic Startup Picckup Secures $500K in Seed Funding to Expand Electric Fleet

A Mohali-based mid-mile and last-mile logistic startup, Picckup, on Thursday, raised $500K in series seed round funding led by We Founder Circle (WFC), with participation from marquee angel investors from India, Australia, and the USA. The company plans to use the capital to expand its...

Empowering Communities with Water Tech

This is a major problem worldwide; it affects billions of people in homes, villages,...

IIT Madras and SPF Partners to Enhance Policy Framework for Indian Startups

Indian Institute of Technology Madras (IIT Madras) has entered into a Memorandum of Understanding...

Beyond Firewalls: How Threat Intelligence Platforms Are Transforming Cybersecurity Operations

“Cybersecurity isn't just about building walls—it’s about seeing the enemy before they strike.” In...

Leveraging AI and Modern HR Solutions to Transform Recruitment Strategies for Skilled Workers

In today’s competitive job market, recruitment strategies are rapidly evolving, driven by advancements in...

BC Originals: Exclusive Casino Games on BC.Game

BC Originals are special, exclusive casino games that are just for BC.Game players. All...

Dogsee Chew draws $8 Mn in series B round from Ektha & Others

Natural pet treat brand Dogsee Chew on Thursday said, it has raised $8 million...

Vishal Puri On Spalba’s Tech-Driven Approach To Venue Booking & Planning

Speaking to TechGraph, Vishal Puri, Co-Founder of Spalba, explains how its platform uses technologies...

INTERVIEW: ADDA’s Krishanu Mukherjee on Transforming Gated Communities

In an interview with TechGraph, Krishanu Mukherjee, AVP of Growth at ADDA.io, explained how...

Life Insurance Death Benefit Payouts: What Your Family Needs to Know

It is important to know more about life insurance policies and their operational modalities....

Wired vs. Wireless Headsets: A Comparative Guide for Evolving Audio Needs

Across a wide range of demographics, including gamers, fitness enthusiasts, business executives, and remote...

Sachin Tendulkar Backed RRP Electronics Partners with Deca Technologies To Enhance Semiconductor Packaging

Cricketing legend Sachin Tendulkar-backed semiconductor manufacturer RRP Electronics has signed a strategic partnership with...

Ways Technology Can Help Your Business Performance

Businesses of all sizes and across every industry are integrating technology to improve their...

Adani Wilmar Gets Shareholders’ Approval to Rebrand as AWL Agri Business Limited

Stock exchange-listed Adani Wilmar Limited announced on Tuesday that it has received approval from...

Pakistan Begins Rice Exports to Bangladesh Under New Government Deal

Bangladesh and Pakistan have resumed direct trade for the first time since 1971. The...

Demand for plumbers in Oman: which specialists are most in demand?

The demand for skilled plumbers in Oman is steadily increasing due to the country's...

INTERVIEW: ADDA’s Krishanu Mukherjee on Transforming Gated Communities

In an interview with TechGraph, Krishanu Mukherjee, AVP of Growth at ADDA.io, explained how...

Choosing the Right Tax Consultant: A Guide for Businesses and Individuals

For both individuals and businesses, tax planning and compliance are crucial aspects of financial...

Life Insurance Death Benefit Payouts: What Your Family Needs to Know

It is important to know more about life insurance policies and their operational modalities....