KreditBee in partnership with SafeGold forays into the digital gold market

By Leandra Monteiro

KreditBee, one of India’s leading FinTech platforms, announced the launch of ‘KreditBee 24K Gold’, a digital gold investment product. Customers can securely buy digital gold with 99.5% purity at live market rates with a single tap on the KreditBee app. Currently, the offering is available for a select set of customers wherein they can start with a minimum investment value of as low as ₹1 and up to ₹3 lakhs. Soon, the option will be available for the larger customer base.

For the offering, the company has partnered with SafeGold, a digital platform building an ecosystem that enables consumers to transact in gold digitally. The partnership will allow customers to buy, sell, and receive vaulted gold around the clock for ticket sizes as low as ₹1, with the tap of a button. KreditBee has started this service to let customers invest in gold instantly, securely, and in real-time.

The purchased gold can also be converted into physical coins or bars and stored in a vault. In case the customer requires their physical gold in person, they can request delivery of the same at their doorstep across the country. The quantity for delivery can be as low as 0.5 gm, secured by free transit insurance from SafeGold.

Speaking on the launch, Madhusudan Ekambaram, Co-Founder & CEO, KreditBee said, “We are elated to partner with SafeGold and launch our distinctive offering ‘KreditBee 24K Gold’, which will make buying gold affordable and highly convenient for customers. It will further encourage savings by providing them with a long-term investment option while eliminating the costs of storage. Gold has always held a special place in India and is one of the most valued universal commodities. The launch of this service also aids our business diversification goal, to engage with our customers effectively and cater to their varied financial needs.”

Gaurav Mathur, Founder & MD, SafeGold, commenting on the partnership said, “Gold is an essential part of almost every Indian’s investment portfolio. We aim to empower Indians, with access to a simple, convenient and secure way to save in gold while giving them assurance on quality, purity, and price. We are honored to partner with KreditBee to enable their 24K Gold offering. This partnership will help simplify digital gold investment for millions of KreditBee users and enable them to buy gold in a few clicks.”