Sheetal Lalwani

Jan 19, 2023

Gullak had earlier raised $1.3 million as part of its pre-seed round led by Better Capital and some angel investors, including Vimal Kumar and Sheetal Lalwani (Co-founders at JusPay) January 19, 2023 / 06:40 PM IST The startup will utilise the funds to increase ARPU by offering unique financial products, strengthening the current product, and also to expand its user base. Y Combinator-backed saving and investment app Gullak announced on January 19 that it has raised $3 million in funding as part of its seed round from new investors YC and Rebel partners and existing investor Better capital. Other investors that participated in the funding round include Good water capital, GMO fintech fund, TRTL ventures and angel investors - Kunal Shah (Cred), Akshay Mehrotra and Ashish Goyal (Early salary), and Kevin Moore, among a few others. Gullak had earlier raised $1.3 million as part of its pre-seed round led by Better capital and some angel investors, including Vimal Kumar and Sheetal Lalwani (Co-founders at JusPay), Ramanathan RV (Co-founder at Hyperface), Nitin Gupta (Founder and CEO at UniCards) and Prasanna Sankar (Co-founder at Rippling) among others. The startup will utilise the funds to increase average revenue per unit (ARPU) by offering unique financial products, strengthening the current product, and also to expand its user base. It also plans to make investments in building a strong community and spreading financial awareness. Founded by former JusPay executives Manthan Shah and Dilip Jain, and Naimisha Rao, Gullak is a platform that helps automate savings. Through this app, users can save small amounts on a regular basis, and automatically invest that in digital gold. It also allows users to lease their Gold to get extra 5 percent returns every year on top of the annual gold returns through its latest offering Gullak Gold+. With this launch, Gullak has become the first B2C app in India to give users an extra 5 percent returns. Related stories