Application YC di Gullak Money

Summer 2022Active

Gullak Money ha partecipato a Y Combinator nel batch Summer 2022 come azienda Fintech. Sotto: cosa fa l'azienda, chi l'ha fondata e la sua application a YC, ricostruita domanda per domanda nel form reale di YC.

Batch YC: Summer 2022
Settore: Fintech
Dimensione team: 15
Stato: Active
Lanciata: 2022

Founder

Naimisha RaoFounder
Dilip JainFounder
Manthan ShahFounder

Cosa fa 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.

Application YC di Gullak Money, ricostruita

Domanda per Y Combinator

Gullak Money, batch Summer 2022. Le vere domande del form, risposte da dati pubblici.

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 risposte in più nell'application completa

Founders, Progress, Idea, Equity, Curious, Batch Preference sono nella versione completa. Crea un account gratuito per aprirla in YC Insights, accanto a ogni altro batch YC.

Vedi domanda completa

Domande Frequenti

Questa è l'application YC reale di Gullak Money?

No. Y Combinator mantiene private le application inviate. Questa è una ricostruzione: le domande del form YC reale, a cui si è risposto usando i dati pubblici di Gullak Money (note di lancio, background dei founder, descrizione del prodotto). Mostra come un'azienda come Gullak Money si presenterebbe a YC, non il testo che hanno inviato.

A quale batch YC apparteneva Gullak Money?

Gullak Money apparteneva al batch Summer 2022 di Y Combinator.

Chi ha fondato Gullak Money?

Gullak Money è stato fondato da Naimisha Rao, Dilip Jain, Manthan Shah.

Cosa fa Gullak Money?

Gullak automates savings & invests these in gold

Come leggo la ricostruzione completa della application?

Crea un account Round Funded gratuito. La versione completa di 26 risposte della application di Gullak Money, e di ogni altro batch YC, è in YC Insights.