Gullak (YC S22)

Gullak automates savings & invests these in gold

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Security Type
Technology, Retail, Financial Services, Community & Lifestyle
Min Investment
San Francisco, CA
Expected Close Date
April 30, 2023
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Key Deal Facts

$350k Monthly GTV in 60 days, growing 25% Weekly
40k transacting customers, 41% share organic and referral, 1.75% take rate
Team grew Juspay eng from 10 to 350, Seed to Series C, and built payment system for Govt of India
10+ product releases in 60 days, achieved in 2 months 50% of what competition achieved in a year
$2.2m raised as part of the current round, and $1.3m prior to YC from Better Capital and Stellaris
Notable investors include Better Capital, Rebel Partners, GMO Fintech Venture Fund, Pioneer Fund

Management Team / Advisory Board Bios

Naimisha Rao Co-Founder & GrowthHead of Growth Marketing @ Twin Health (Sequoia Funded Series C Company), Dilip Jain Co-Founder & EngHead of Engineering @ Juspay (SoftBank Funded Series C Company), Manthan Shah Co-Founder & ProductIIT Kharagpur, Head of Product @ Juspay (SoftBank Funded Series C Company)
Amount Raised : $2,285,971
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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