Plus Gold shut its digital gold savings app a year after its Shark Tank India fame

A full-stack digital gold savings and investment app, with digital gold partner Augmont and assets secured by ICICI Lombard

Indian savers would build gold holdings through a full-stack app with flexible or monthly SIP saving, redeemable as cash or jewellery with up to 5% extra benefits

$1.2M seed round led by JITO with Venture Catalysts and Signal Ventures, June 2024; angel investors included Acko's Varun Dua

Veer Mishra and Raj Parekh founded Plus Gold in 2022 to make gold savings and investment more accessible: users saved in digital gold in flexible amounts or through fixed monthly SIPs, with Augmont as the digital gold partner and assets secured by ICICI Lombard.

The app passed 1 lakh downloads on Google Play and appeared on Shark Tank India. A $1.2M seed led by JITO, with Venture Catalysts and The Signal Group's Signal Ventures, closed in June 2024. Mishra says investor interest produced several Series A term sheets, but tightening capital markets and macro uncertainty let the commitments delay and collapse. A Venture Catalysts spokesperson said unit economics 'did not evolve strongly enough to support sustainable growth.'

By July 2025 core operations had halted. The Plus Gold app and customer infrastructure transitioned to an unnamed 'credible digital gold player' — a brand and platform handover, not a company acquisition. Some users reported failed withdrawals on Reddit; Mishra said no investor funds were locked and all funds were backed by gold holdings.

High cash burn in a capital-intensive full-stack model outpaced what a $1.2M seed could sustain

Unit economics 'did not evolve strongly enough' to attract follow-on funding, per investor Venture Catalysts

Series A term sheets collapsed amid tightening capital markets and shifting investor priorities

The segment itself was unproven: comparable startup GoldPe had shut the year before for similar reasons

Unit economics that don't improve with scale don't survive a funding winter: term sheets signed in a hot market can evaporate before the cash does.

As of July 2025 the app remained active for end users, with customers able to withdraw or sell gold as usual while the acquiring operator's identity awaited formal disclosure. Venture Catalysts said its management was exploring deals to minimize impact and recover value for investors.