Khyaal and CaratLane Collaborate for Innovative Digital Gold Investments Aimed at Seniors

11th May 2024, Mumbai, India: Khyaal, India’s number one app for senior citizens announces a strategic partnership with CaratLane, to introduce Khyaal Digi-Gold—a secure, hassle-free digital gold investment solution tailored for seniors. Launched on the auspicious occasion of Akshaya Tritiya, this partnership is set to revolutionise the way senior citizens approach gold investment. It offers a secure, hassle-free digital alternative that addresses the traditional challenges associated with physical gold such as making charges, purity concerns, storage costs, and theft risks.

As part of this partnership, Khyaal’s 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 CaratLane’s 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 Khyaal’s 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.

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