Gullak brings automated digital-gold savings to iPhone

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Gullak is a Summer 2022 Y Combinator company that offers an iPhone app for saving in digital gold. The product is built around small, regular savings rather than a one-time purchase, with options for daily, weekly, monthly, or one-time gold buying. The company says its goal is to make it easier to plan, save, and grow money in a familiar asset class for Indian users. (ycombinator.com; gullak.money)

According to the company site and App Store listing, the app lets users automate savings, including a “save on every spend” feature that rounds up online transactions and invests the difference into digital gold. Users can also set a savings plan, make lump-sum top-ups, and redeem their gold later as cash, gold coins, or jewellery, depending on the option chosen in the app. (gullak.money; apps.apple.com)

The app is aimed at people who want a simple way to build savings without manually timing gold purchases. Gullak says it supports goals, reminders, doorstep delivery of gold coins, and withdrawals through UPI. The App Store page also says users can convert digital gold into jewellery at partner stores in India, while the company site says users can withdraw as cash or gold and pause or edit automated savings at any time. (gullak.money; apps.apple.com)

For iPhone users, Gullak is listed on the App Store as a free finance app. The listing says it requires iOS 15.0 or later and is available only for iPhone, with English as the supported language. The developer is Finternet Technologies Pvt Ltd. Practical limitations to note: the app is focused on digital gold savings, and some features depend on UPI AutoPay, partner jewelry networks, and the user’s ability to complete the app’s onboarding and KYC flows. (apps.apple.com; gullak.money)