Gullak raises Rs 10 Cr in fresh round

Savings and investment app Gullak has raised Rs 10 crore in a funding round led by Better Capital and Stellaris Venture Partners.

The round also saw participation from several angel investors namely Vimal Kumar and Sheetal Lalwani, Shan MS Ramanathan RV, Maya Kunnath, Nitin Gupta and Prasanna Sankar.

The startup will deploy the capital to expand its reach and use new funds for product enhancement and marketing.

Founded in January 2022 by former JusPay executives Manthan Shah, Dilip Jain and Naimisha Rao, Gullak allows customers to save small sums of money on a monthly basis and invest it automatically into digital gold.

The platform expects to reach one lakh monthly active users (MAU) and 10 lakh gross transaction value (GTV) daily.