Khyaal and CaratLane Partner to Introduce Innovative Digital Gold Investment Offerings for Seniors

As part of this partnership, Khyaals app will feature a dedicated section where users can effortlessly buy and sell gold by weight or its monetary value. Additionally, the app will provide access to real-time gold prices and a history of gold performance, enabling users to make informed investment decisions. This digital format allows for transactions to be made 24/7 directly from the Khyaal app, with the option to easily convert their digital gold holdings into Indian Rupees and transfer to their bank accounts. Seniors can also effortlessly convert their digital investments into physical jewellery, choosing from CaratLanes extensive collection of over 8,000 unique designs available both online and at more than 270 retail outlets nationwide. This flexibility and the tangible benefits of Khyaal Digi-Gold make it a highly appealing choice for seniors who value both security and convenience. Moreover, this partnership comes with the CaratLane seal of trust, which guarantees the purity and security of the investment.

Commenting on the partnership, Hemanshu Jain, Founder & CEO, Khyaal said, "Gold has always been a trusted investment avenue for seniors and continues to be the preferred option. Our partnership with CaratLane furthers our ongoing commitment to enhance the lives of our seniors by offering greater access, security, and independence. The aim is to ensure that seniors can invest in gold through a simple and seamless platform that streamlines the gold investment process, making it accessible and hassle-free."

Expressing enthusiasm about the partnership, Avnish Anand, Chief Executive Officer at CaratLane, said, "The whole point of building the Digital gold business is to provide a simpler cost effective solution to consumers who buy and gift gold for future jewellery purchases. This strategic partnership with Khyaal is a crucial step in making that happen. We feel that we can combine our capabilities and provide a wonderful experience and great value to Khyaals customers."

Khyaal Digi-Gold offers a structured and transparent approach to buying 24-Carat gold, ensuring compliance with all applicable laws and regulations. This method allows customers the flexibility to invest in gold in denominations as low as Rs. 10. CaratLane, on behalf of Khyaal users, secures physical gold which is then stored in BVC's high-security vaults, providing peace of mind for seniors by eliminating the logistical challenges of storing and securing physical gold.

Khyaal was established to address the broad spectrum of challenges faced by seniors in modern times, including loneliness, digital literacy, susceptibility to online frauds, misinformation, and difficulty in accessing suitable assistance. Designed to empower seniors to reclaim control over their lives, the Khyaal app comprehensively tackles these issues. With a digital-first approach, it leverages technology to provide seamless access to essential services across India, enabling seniors to navigate their daily lives with greater independence and security. Since its launch in 2020, Khyaal has successfully engaged with over one million seniors and has raised a total of $5.4 million, significantly boosting its ability to serve India's senior population.

About Khyaal

Khyaal is India's number one app for senior citizens with over 1 million seniors and growing. The app enables seniors above the age of 55 years to attend live workshops, participate in fun games, make safe payments, avail on-demand assistance, get the best offers, find curated travel packages, and enjoy many more benefits. The Khyaal app also acts as a bridge that allows family members to provide care and support to their elderly loved ones. Established in 2020 by Hemanshu Jain and Pritish Nelleri during the COVID-19 pandemic, the startups primary mission is to simplify retirement and enrich the lives of senior citizens by fostering engagement, learning, and independence.

About CaratLane

CaratLane - a Tanishq Partnership, India's first omni-channel jewellery brand with 270+stores across the country. CaratLane was founded in 2008 by Mithun Sacheti and Srinivasa Gopalan with a simple but courageous objective - to make beautiful jewellery accessible, affordable and forever wearable. The driving force behind all of CaratLanes efforts is its purpose of enabling people to express their emotions. Through its unique designs and innovative technological interventions, it aims to be a meaningful part of every celebration in the modern woman's life.