Gullak bags Rs 10 crore in a fresh round of funding from Better Capital and Stellaris Venture Partners
- ByStartupStory | June 18, 2022
Gullak, an automated savings and investing platform, has secured Rs 10 crore in a pre-seed round of funding backed by Better Capital and Stellaris Venture Partners. The new funds will be used to increase the company’s reach, as well as for product and marketing.
Angel investors included Vimal Kumar and Sheetal Lalwani (co-founders of JusPay), Shan MS (chief growth officer of JusPay), Ramanathan RV (co-founder of Hyperface), Maya Kunnath (head of legal at Hyperface), Nitin Gupta (founder and CEO of UniCards), and Prasanna Sankar (founder and CEO of UniCards) (co-founder at Rippling).
Former JusPay executives Manthan Shah and Dilip Jain, as well as Naimisha Rao, founded the firm in 2022, which released the official version of the app in May 2022 and now has over 9,000 users and 1,000 daily transactions. In the following months, the firm hopes to reach one lakh monthly active users (MAU) and ten lakh gross transaction value (GTV).
The startup, which was founded by the same people who created BHIM, has collaborated with Paytm for secure payment processing and Augmont for digital gold investments. Gullak assists customers in accumulating money by automating micro-savings and investing them in digital gold.
Better Capital’s Vaibhav Domkundwar remarked that Gullak enables millions of consumers to automate their savings and investments in a simple, rapid, and long-term manner – something that India sorely lacks. We are pleased to be a starting stage partner with Gullak in making wealth generation simpler.
Follow Startup Story
Related Posts
