With the amount of information that one has at their fingertips today, wealth creation is not very difficult. In recent times, stocks, mutual funds, and fixed deposits have emerged as alternative modes of investment. Yet, millions of people are unsuccessful with wealth generation even though they, according to their understanding, are saving in the best way possible. Indian culture has always taught us how to save, and we love to stay disciplined when it comes to investing; however, the issue lies in where we hold. More often than not, we have been taught to save in such asset classes, which do not even beat India’s inflation when looked at in the long run. Built to cater to this challenge, three entrepreneurs came together to create an automated savings platform —Gullak. The idea was simple—Democratise wealth creation and become a brand synonymous with ‘savings.’
Having an experience in the fintech space while building BHIM, UPI stacks for Google Pay and Amazon, the founding team at Gullak – Manthan Shah, Dilip Jain and Naimisha Rao, realised their natural inclination towards contributing towards the development of the fintech space. Their want drove them to solve the real issue at scale by tapping into the ecosystem’s problems. By identifying the wise investing ecosystem gap, they created Gullak to make wealth generation easier and relieve the masses’ financial anxiety by helping them achieve their financial goals.
Gullak helps users create wealth by automating micro-savings & auto-investing that into digital gold, says Rao. The app offers two major saving options for its consumers—the first is the ‘recurring savings option’, where users can save a fixed amount daily/monthly. The second option is the ‘save on every spend’ option, where the app rounds up the user’s daily transactions to the nearest 10’s and auto invests that into 24K 99.9% pure gold. The app also has other features such as ‘pause savings anytime’, “withdraw at just a click”, and “Top…
Read complete post here: