Venture Catalysts, an incubator and accelerator participated in a USD 1.2 million seed funding round for Plus Gold, a fintech platform t to transform how India buys, saves and invests in gold.
The platform allows users to invest in gold through Systematic Investment Plans (SIPs) or one-time transactions, catering to diverse investment preferences and financial capabilities.
The seed funding round was spearheaded by JITO, with significant participation from Venture Catalysts. The funding round saw participation from Bollywood celebrity Sonakshi Sinha, tech entrepreneur Sachin Shetty, Signal Ventures, Shark Tank India fame Varun Dua, Shrish Mishra, Misfits and several other notable figures in the Indian startup ecosystem.
Commenting on the investment, Apoorva Ranjan Sharma, Co-founder, and Managing Director of Venture Catalysts++, said, “Plus Gold's innovative approach to digital gold investments represents a significant leap forward in India's fintech landscape. By seamlessly blending the cultural importance of gold with cutting-edge technology, Plus Gold is not just tapping into a market – it's reshaping it. The platform's unique feature allowing users to convert digital investments into physical jewellery addresses a crucial gap in the market. With India's gold market estimated at $80 billion, we believe Plus Gold is exceptionally well-positioned to capture a substantial share. This investment aligns perfectly with our strategy of backing visionary startups that have the potential to transform traditional sectors through technology and innovation.”
Veer Mishra from Plus Gold, said, "We are thrilled to have secured this seed funding from such a distinguished group of investors. This vote of confidence from industry leaders validates our vision and approach. The funds will be instrumental in accelerating our growth trajectory, allowing us to refine our technology, expand our user base, and introduce innovative features. Our goal is to make gold investment as easy and accessible as using a smartphone app, while still honoring the deep cultural significance of gold in India. With this support, we're poised to revolutionise how Indians interact with gold, making it more accessible and aligned with modern investment practices while respecting its cultural significance."
The funding will be strategically deployed to enhance Plus Gold's technological infrastructure, focusing on improving user experience, strengthening security measures, and developing AI-driven investment advisory features. The company also plans to expand its team, particularly in technology and customer service roles, to support its rapid growth trajectory.
