BENGALURU: Gullak, the gold-savings app run by Finterscale Technology Pvt Ltd, says it has closed a $7.5 million Series A round led by Chiratae Ventures, according to a company blog post last updated on 1 October 2026. White Venture Capital and Samved Ventures joined the round, and existing backers Y Combinator, GMO Fintech Fund and Rebel Fund also put in more money.
The company frames the raise as fuel to push gold savings deeper into India, not only as a capital milestone. Gullak started in 2022 with a narrow brief: make buying and holding gold on a phone as ordinary as a UPI payment. The post says users on the app have already bought more than 1,000 kilograms of gold.
What the money is meant to fund
Three priorities sit at the top of the list. First is brand building, so that when people think of saving in gold they think of Gullak. Second is expansion into Tier-2 and Tier-3 cities, where the company says gold demand is strongest. Third is deeper jeweller partnerships, so that digital gold balances can turn into jewellery without friction.
The ambition line in the post is blunt. Gullak wants a gold balance on the phone of every Indian household, the way UPI put cash on phones. Whether that happens will depend on trust, redemption and how jewellers treat app customers at the counter.
How the product works, on the company's numbers
Users can start a gold SIP from as little as Rs 100 a day, make one-time purchases, redeem as jewellery across more than 5,000 jeweller partners, take delivery of coins, or move value as a cash transfer, the company says. It reports an average saving of about Rs 7,000 per user per month, 80 percent retention at month 12, and about half of new users arriving by word of mouth.
Festival days matter to the pitch. On Dhanteras and Akshaya Tritiya, Gullak says its single-day sales were already twice those of the next largest player. Those comparisons are the company's own and are not independently audited in the post.
Readers who follow Indian fintech funding will recognise the pattern: a vertical app that refuses to become a super-app checkbox. Gullak argues gold is a category of its own. For context on other recent funding and listing stories on this desk, see our report on Moneyview's NSE listing and the earlier note on Gravity's $15 million equity and debt round.
What is still open
The blog does not publish revenue, active user counts or unit economics beyond the averages above. It also does not name a valuation. Support queries go to support@gullak.money. The legal entity is Finterscale Technology Pvt Ltd, with an address in Koramangala, Bengaluru, printed in the page footer.
For Indian households that already buy gold for weddings and festivals, the product question is simple: does an app SIP feel safer and cheaper than the neighbourhood jeweller's instalment scheme. Gullak's Series A is a bet that the answer is yes for a much larger set of towns than it covers today.
Gold remains a default savings habit across Indian households, often bought in lumps before a festival or a wedding. An app that turns that habit into a daily SIP has to clear two hurdles at once: trust that the gold is real and allocated, and a redemption path that does not feel worse than walking into a familiar jeweller. Gullak's post leans on partner jewellers and doorstep coin delivery for the second hurdle, and on retention and word-of-mouth numbers for the first.
Chiratae leading a Series A in a gold-savings vertical is also a signal about where consumer fintech capital is still willing to concentrate. Broad super-apps already offer gold as a tab. Gullak's counter is that a specialist will win the serious saver. The next public proof points are city-level expansion announcements, jeweller partner counts that keep rising, and whether festival peaks in 2026 beat the company's own year-ago claims.
Until then, the $7.5 million figure and the named investors are the hard facts on the company blog. Everything about kilograms sold and retention rates should be read as management figures, useful for understanding the pitch, not as audited disclosures.
