Achi news desk-
The aim of this strategic partnership is to revolutionize gold investment for older people, giving them a modern, safe and convenient alternative to the traditional method.
Mumbai, May 9: Khyaal, India’s leading 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 senior citizens. Launching on the auspicious occasion of Akshaya Tritiya, this partnership is poised to revolutionize the way seniors approach gold investment. It offers a secure, hassle-free digital alternative that addresses the traditional challenges associated with physical gold such as charging, purity concerns, storage costs, and theft risks.
As part of this partnership, the Khyaal app will feature a dedicated section where users can effortlessly buy and sell gold by weight or monetary value. In addition, the app will provide access to real-time gold prices and history of gold performance, enabling users to make informed investment decisions. This digital format allows transactions to be done 24/7 directly from the Khyaal app, with the option to easily convert their digital gold holdings into Indian Rupees and transfer them to their bank accounts. Seniors can also effortlessly convert their digital investments into physical jewelry, choosing from CaratLane’s extensive collection of over 8,000 unique designs available online and in more than 270 stores nationwide. This flexibility and the tangible benefits of Khyaal Digi-Gold make it a very appealing choice for seniors who value security and convenience. Moreover, this partnership comes with the CaratLane seal of trust, which guarantees the purity and safety of the investment.
Commenting on the partnership, Hemanshu Jain, Founder and CEO, Khyaal said, “Gold has always been a reliable investment avenue for seniors and continues to be the preferred option. Our partnership with CaratLane furthers our ongoing commitment to improving the lives of our older people by offering greater access, safety and independence. The aim is to ensure that seniors can invest in gold through a simple and seamless platform that simplifies the gold investment process, making it accessible and hassle-free.”
Expressing enthusiasm about the partnership, Avnish Anand, CEO of CaratLane said, “The whole purpose of building the Digital gold business is to provide a simpler cost-effective solution for consumers buying and donating gold for future jewelery purchases. This strategic partnership with Khyaal is a critical step in making that happen. We feel we can combine our capabilities and deliver a great experience and great value to Khyaal customers.”
Khyaal Digi-Gold offers a structured and transparent approach to buying 24-Carat gold, ensuring compliance with all applicable laws and regulations. This approach 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, giving seniors peace of mind by eliminating the logistical challenges of storing and securing physical gold.
Khyaal was founded to address the broad spectrum of challenges faced by older people in modern times, including loneliness, digital literacy, susceptibility to online fraud, misinformation, and difficulty accessing suitable support . Designed to empower seniors to regain control over their lives, the Khyaal app comprehensively addresses 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 a million seniors and raised a total of $5.4 million, significantly boosting its ability to serve India’s senior population.
