Digital gold investment platform Gullak has achieved remarkable growth, recording a 10X expansion in just a year, driven by strong consumer trust and festive season sales.
It recorded sales of over Rs 50 crore during the recent festive season, the company said in a statement.
The platform achieved a significant milestone on Dhanteras, generating the highest single-day sales in the industry, with transactions exceeding Rs 16 crore.
Operating with a team of 20 members, Gullak’s milestone underscores its role as a disruptor in India’s USD 2 trillion gold market. This success also reflects a broader trend in India, where consumers are increasingly embracing digital platforms for investments.
Speaking about this trend, Manthan Shah, Co-founder, Gullak said: “India’s love for gold is timeless, but traditional methods of accumulating gold have always been inconvenient. While there has been a lot of innovation in the consumption space(the jewellery space), the accumulation space has been largely ignored. Even today, crores of Indians set money aside to buy gold coins from a jeweller, store them securely, and later convert them into jewellery when needed. Gullak has transformed this journey by making gold accumulation seamless for these gold lovers.”
Also read: Dhanteras: Nearly 30% surge already in past 1 year! Gold to cross Rs 1 lakh mark by next Diwali?
Gullak aims to simplify and automate gold accumulation through its mobile app. The app allows users to start gold SIPs with as little as Rs 100 per day or make lump-sum investments. Users can redeem their accumulated gold in multiple ways, including doorstep delivery of gold coins, converting this gold balance to jewellery from leading jewellers across India, or even converting it into cash directly transferred to their bank accounts.
One of its standout offerings is its Gold+ service, which enables users to earn an assured 4–5% extra gold annually on top of the historical 11% price appreciation of gold. This ensures that users grow their gold in weight as well alongside the Gold price increase benefit.
Highlighting Gullak’s success this festive season, Shah said: “We built Gullak for serious gold savers, and as we onboarded these customers, their demand for additional features inspired us to create a comprehensive gold app. By addressing the accumulation needs of India’s dedicated gold-loving audience — an underserved market — we’ve achieved rapid growth and an exceptional performance this festive season.
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