GoldPe's Prize-Linked Savings Model Bringing New Dimension To Saving's In India

What Is GoldPe?

GoldPe enables users to invest in digital gold with just INR 10. Users have a chance to win up to INR 10 Lakh weekly by purchasing digital gold worth INR 100 and above. The platform aims to revolutionize Indian savings, combining rewards with safety.

Speaking With The Founder:

GoldPe's Shah highlighted that their app encourages savings habits with substantial rewards, offering superior economic value compared to traditional avenues. Even without winning prizes, users' funds grow over time, fostering financial growth.

GoldPe’s PLS System

GoldPe's PLS operates by utilizing digital gold, avoiding regulatory hurdles through in-app rewards. The startup collaborates with Augmont and processes payments via DBS Bank.

Potential Challenges

GoldPe grapples with user retention issues linked to withdrawal delays, often caused by UPI transaction hitches. To counter this, the startup now offers the IMPS option for instant interbank transfers, aiming to improve the withdrawal process and address customer complaints.

Future Plans

The investment tech platform is also in talks with YES Bank to make their second banking partners. GoldPe is targeting to expand its network to 5 Lakh users

How GoldPe’s Prize-Linked Savings Model Is Redefining India’s Investment Paradigm