We participated in Gullak’s Series A round, jointly investing alongside Chiratae Ventures and other investors in a total fundraising of USD 7.5 million. Gullak is digitizing small-ticket gold investments in India, offering households a new habit of systematic wealth creation.
Gullak has transformed “gold investment” — the most familiar savings method in India — into a digital experience, enabling anyone to automatically accumulate gold starting with small amounts. Over the past decade, the spread of UPI, India’s domestic instant payment system, has dramatically expanded financial access. Yet, more than 200 million households still face erosion of wealth due to inflation, making innovation in long-term savings an urgent priority.
The founding team combines deep expertise in both financial infrastructure and technology, and we have supported the company continuously since the seed stage. In this follow-on investment, we place particular emphasis on three factors: (1) the vast untapped market potential, (2) an ecosystem strengthened by partnerships with major jewelers and banks, and (3) healthy unit economics coupled with strong retention.
In recent years, India has seen a surge in retail investors alongside the rise of wealthtech, with systematic investing and micro-investments becoming mainstream. At this pivotal moment of accelerated transformation, we expect Gullak to embed a new habit of wealth creation into society, and we are committed to supporting its continued growth. (Deal Lead: Yamamoto)