After raising over $1.2 Mn from notable VC firms and angel investors, Plus Gold ceased its operations due to an inability to secure further capital
Founded in 2022 by Mishra and Raj Parekh, Plus Gold operated a full-stack platform designed to make gold savings and investments more accessible
Available on both Google Play Store and Apple App Store, the Plus Gold app allowed users to redeem their savings as cash or jewellery, with up to 5% additional benefits. The app had over 1 Lakh downloads on the Google Play Store.
While Plus Gold has halted its core operations completely, its app is still active for end users.
"Plus Gold, as a brand and product, has already found a new home. We have successfully transitioned the Plus Gold app and customer infrastructure to a credible digital gold player to ensure continued service for users… Details about the acquiring entity will be formally disclosed by the new operator at an appropriate time. However, this was not an acquisition of the company itself but rather a brand and platform transition," Mishra said.
Notably, some users of Plus Gold have been complaining about facing troubles in withdrawing their deposits from the app. A user said on Reddit that despite multiple attempts to withdraw funds from the app, the process couldn't be completed.
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