Aplicación YC de Gullak Money

Summer 2022Active

Gullak Money pasó por Y Combinator en el batch Summer 2022 como una empresa de Fintech. Abajo: qué hace la empresa, quién la fundó y su aplicación a YC, reconstruida pregunta por pregunta en el formulario real de YC.

Batch YC: Summer 2022
Industria: Fintech
Tamaño del equipo: 15
Estado: Active
Lanzado: 2022

Fundadores

Naimisha RaoFounder
Dilip JainFounder
Manthan ShahFounder

Lo que hace Gullak Money

Gullak is a mobile app that automates savings & invests these in Gold. We launched in India 60 days ago and have grown from 0 to 40k transacting users and hit a monthly GTV of $280K already. We are growing 25% week on week. India is a nation of savers but the way the majority of India saves is non-smart & does not create wealth. There are 200 Mn Indians who save manually in bank deposits, the returns from these instruments do not even beat India's inflation. Gold is an instrument that India loves - 30Bn worth gold is purchased in India every year by middle income households. Gold has great cultural significance in India & there is high familiarity with the asset class. Despite gold being a familiar asset class & giving 5% higher returns than bank deposits, 200 Mn Indians still save manually in these non wealth creating bank deposits. This is largely because the ways to save in Gold required painful discrete activities such as manually accumulating money to buy gold, going to offline stores to buy this gold, incurring storage charges & more. The minimum ticket size for purchasing gold at these stores is $50 adding to more friction to saving in Gold. Using automated savings, Gullak now makes it extremely easy for users to save small amounts regularly($1/day) in digital Gold.This was not possible a year ago because the underlying infrastructure(UPI Autopay) was missing. With 50 Mn Indians saving $2/day & with gold backed lending, this is a $1.5Bn market opportunity. Gullak’s Founding team is the team which built BHIM UPI App(10Mn Downloads in 10 Days), this was launched by the PM of India. We built large scale payment systems for partners like GooglePay / Amazon, processing more than 30Mn payments/day. This is the same team that has built more than 40+ consumer brands & their initial growth strategy.

Aplicación YC de Gullak Money, reconstruida

Solicitud de Y Combinator

Gullak Money, batch Summer 2022. Las preguntas reales del formulario, respondidas con datos públicos.

Founders2
Company7
Progress7
Idea4
Equity3
Curious2
Batch Preference1

Company

Company name

Gullak Money

Describe what your company does in 50 characters or less.

Automates savings and invests in gold

What is your company going to make? Please describe your product and what it does or will do.

Gullak is a mobile app that automates small daily savings and invests them directly in digital gold. It removes friction by using UPI Autopay, enabling users to save around $1 a day safely without manual effort. We launched in India 60 days ago and already have 40k users transacting regularly and a monthly transaction value of about $280K.

Where do you live now, and where would the company be based after YC?

We live in Bengaluru, Karnataka, India, and the company will remain based there after YC.

Explain your decision regarding location.

Bengaluru is India's fintech hub with a deep talent pool and an established startup ecosystem. Being here gives us access to infrastructure and partnerships critical for digital payments and gold investment products in India.

21 respuestas más en la aplicación completa

están en la versión completa. Crea una cuenta gratuita para abrirla en YC Insights, junto a cada otro batch de YC.

Ver aplicación completa

Preguntas Frecuentes

¿Es esta la aplicación YC real de Gullak Money?

No. Y Combinator mantiene privadas las aplicaciones enviadas. Esta es una reconstrucción: las preguntas reales del formulario de YC, respondidas a partir de los datos públicos de Gullak Money (notas de lanzamiento, antecedentes de fundadores, descripción del producto). Muestra cómo una empresa como Gullak Money se presentaría a YC, no el texto que enviaron.

¿En qué batch de YC estuvo Gullak Money?

Gullak Money formó parte del batch Summer 2022 de Y Combinator.

¿Quién fundó Gullak Money?

Gullak Money fue fundado por Naimisha Rao, Dilip Jain, Manthan Shah.

¿A qué se dedica Gullak Money?

Gullak automates savings & invests these in gold

¿Cómo leo la aplicación completa reconstruida?

Crea una cuenta gratuita de Round Funded. La versión completa de 26 respuestas de la aplicación de Gullak Money, y de cada otro batch de YC, está en YC Insights.