Gullak. Money, a Bengaluru-based savings and investment app, has raised $1.3 million in a pre-seed round led by Better Capital and Stellaris Venture Partners.
Gullak, which was founded in January 2022 by former JusPay executives Manthan Shah and Dilip Jain, as well as Naimisha Rao, allows customers to save tiny sums of money on a monthly basis and invests them automatically in digital gold.
The firm introduced the official version of its app in May 2022, and it now has approximately 9,000 users and 1,000 daily transactions.
Gullak aims to reach one lakh monthly active users (MAU) and ten lakh gross transaction value (GTV) per day in the coming months.