Gullak, a Bengaluru-based fintech that lets users buy and save gold digitally, has raised US$7.5 million in a series A round led by Chiratae Ventures.

The funding included participation from White Venture Capital, Samved Ventures, Y Combinator, GMO Fintech Fund, and Rebel Fund.

Gullak will use the capital to expand into smaller Indian cities and strengthen partnerships with jewellery retailers.

Founded in 2022, Gullak allows users to accumulate gold in small amounts via its app and redeem it for jewellery across chains such as Tanishq, Kalyan, and Malabar.

The company said gold bought through its platform is stored with regulated partners and can be converted into coins or withdrawn as cash.

Gullak reports having 300,000 active customers and annual recurring revenue of US$2.5 million.

🔗 Source: YourStory