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Becomes the first ever B2C app to give users an extra 4-5% in Gold grams every year on all Gold investments made on the app

* Gullak is a leading fintech app that helps individuals automate their savings and invest in digital gold.

* The startup has now become the first platform to digitise and democratise gold leasing for easy wealth generation

* With this the app will provide its users an extra 4-5% returns p.a over Gold’s historical returns of 11% p.a on every gold investment

 After giving its users an option to automate their savings into Gold & earn up to 11% returns annually, Fintech app Gullak now launches Gullak Gold+ to give its users not 11 but 16% returns on Gold. Gullak does this by giving users an assured extra 4-5% Gold every year on top of the 11% historical returns of Gold.

With this launch, Gullak becomes the first ever B2C app to give users an extra 4-5% in Gold grams every year on all Gold investments made on the app. Gullak gives the users extra returns by allowing them to lease their Gold to India's trusted jewellers & get extra 5% interest per annum in the form of 24K Gold from these jewellers. This is also the first ever time this practice (Gold leasing) will be secured using a 100% bank guarantee from the jeweller

"Gold leasing is a practice that has been prevalent in the offline market but is limited to a very small population(Top 0.01% of India) & the minimum quantity to lease has been upwards of 1KG of Gold. Gullak becomes the first to digitise & democratise the same. We want to give all our users secure ways to create more wealth & this is yet another step towards that." says Dilip Jain, co-founder, Gullak.

Jewellers prefer to get Gold metal for their working capital to protect themselves from price fluctuations & be more capital efficient. The jewellers are screened & verified by Augmont - India's largest & most trusted fully integrated Gold player. Augmont vets the security provided by each of these jewellers as collateral for the lease & takes bank guarantee equivalent to 100% of the INR value. The jeweller coordination is done by Gullak/Augmont & the extra Gold is deposited back into users Gullak at the end of every month. 

"The process to avail Gold+ is simple & can be done by anyone in 3 quick steps & in less than 5 minutes. There are no lock-ins, i.e, the user can withdraw Gold at any point - Users can withdraw as cash or get the Gold delivered at home. The minimum quantity to lease is just 0.5 grams. Gullak Gold+ returns beats returns from all other Gold instruments & becomes the best choice for anyone wishing to invest in Gold for long term" says Manthan Shah, co-founder, Gullak.

"The first requirement listed by the jewellers is already booked by our existing customers. We are seeing great inbound response for the product & are happy to have provided our customers with an innovative solution to create more wealth. " added Manthan Shah.

Founded in the year 2022, Gullak, a leading YCombinator fintech startup, since the launch of its app in the month of June has already made over a crore worth of digital gold purchases made via the app. It aims to grow by 10X by the end of this quarter.

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