myGold
myGold is an Indian fintech platform enabling individual consumers to buy, sell, lease, and accumulate digital and physical gold via mobile app, offering Gold SIPs and up to 5% p.a. leasing returns backed by MMTC-PAMP.
- Company typePrivate
- Founded2021
- HeadquartersLucknow, India
- Headcount11–50
- GTM typeB2C
- OfferingServices
What myGold does
myGold (legally BKS MyGold Private Limited) is an Indian fintech startup founded in 2021 by Amol Bansal and headquartered in Lucknow, Uttar Pradesh. The company operates a mobile-first platform (iOS and Android apps plus web) enabling Indian consumers to buy, sell, lease, and accumulate digital and physical gold, positioning itself as 'India's First Gold Bank' and the country's first platform to offer both digital and physical gold leasing. Core products are Digital Gold Leasing and Physical Gold Leasing (the latter operated via the 100%-owned myVault subsidiary), a Gold SIP (Systematic Investment Plan) starting at ₹10/day, and a Sell Gold service with scientific XRF purity testing. The platform's underlying technology stack includes blockchain-based transaction records, real-time live market-linked pricing integrated with India's only LBMA-accredited refinery MMTC-PAMP, and UPI autopay for systematic investments. Supporting services include home-visit gold assessment, jewellery conversion via e-commerce partners, a Refer & Earn program offering up to ₹1,00,000 in rewards, and the Swarn Mandir Abhiyaan initiative for digitizing temple gold donations in partnership with Temple Connect.
The company targets individual Indian consumers holding idle physical gold in bank lockers and home safes, salaried investors seeking systematic accumulation, gold sellers seeking transparent valuation, and more recently temple trusts. Revenue is generated through transaction fees on gold leasing commissions (a share of the up to 5% p.a. leasing returns paid to gold owners), spreads on digital and physical gold buy/sell transactions, recurring fees from Gold SIP management, and referral/affiliate fees from jewellery conversion partners. Strategic alliances include IBJA as Official Gold Leasing Partner (MoU signed October 2025), ICICI Bank and HDFC Bank for payment infrastructure, Razorpay and PhonePe for payment processing, Sequel Global Precious Logistics (BVC) for insured physical gold transit, and MMTC-PAMP for digital gold backed by physical reserves. As of the latest available data, myGold employs 29 people, operates one collection center in Lucknow, and has not disclosed external funding rounds, revenue figures, or ownership beyond the founder.
myGold firmographics
Firmographics- Name
- myGold
- Legal name
- BKS MyGold Private Limited
- Website
- https://bksmygold.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- myGold is an Indian fintech platform enabling individual consumers to buy, sell, lease, and accumulate digital and physical gold via mobile app, offering Gold SIPs and up to 5% p.a. leasing returns backed by MMTC-PAMP.
- Ownership category
- akta.pro rank
Where myGold is headquartered
LocationHeadquarters
- HQ city
- Lucknow
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
myGold business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Gold Leasing Commission: myGold earns commissions from facilitating gold leasing transactions between gold owners and vetted jewellers. Gold owners lease their gold to jewellers and earn up to 5% p.a. in additional gold weight, while myGold takes a share of the leasing income as platform fees.
- Gold Purchase/Sale Margin: Revenue generated from the spread between buying and selling prices of digital gold and physical gold transactions on the platform. Digital gold is sourced from MMTC-PAMP and physical gold is sourced from verified sellers.
- Gold SIP Management: Revenue from systematic gold investment plans where users invest small amounts daily/weekly/monthly. The platform accumulates digital gold on behalf of users and offers optional auto-leasing to earn additional returns.
- Jewellery Conversion Revenue: When users convert their digital gold holdings into physical jewellery through e-commerce partners, myGold earns referral/transaction fees from the partner jewellers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Digital Gold SIP starting at ₹10/day |
| Usage-based | Monthly | Gold Leasing Returns up to 5% p.a. |
| Transaction based/ take rate | Pay-as-you-go | Refer and Earn rewards up to ₹1,00,000 |
| Unit Pricing | Pay-as-you-go | Digital Gold Purchase and Sale |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
myGold product offering
Product offeringCore offering
myGold is a fintech platform that enables individual Indian consumers to buy 24K digital gold, accumulate gold through systematic investment plans (Gold SIPs), sell physical gold with transparent XRF-based purity testing, and lease both digital and physical gold holdings to vetted jewellers to earn up to 5% per annum in additional gold weight. Users retain 100% ownership throughout the lease period, supported by legally stamped bailment agreements, MMTC-PAMP-backed digital gold reserves, and a dedicated gold leasing subsidiary (myVault). The platform is delivered through iOS/Android mobile apps, a website, and a physical collection center in Lucknow with home-visit services.
Product overview
myGold is a comprehensive digital and physical gold platform positioned as 'Bharat ka pehla Gold Bank' (India's First Gold Bank). The platform operates on a unified ecosystem model comprising three core products: Digital Gold Leasing and Physical Gold Leasing (via the myVault subsidiary), Gold SIP for systematic accumulation, and Sell Gold services for liquidation. The Gold on Gold Plan allows users to earn up to 16% p.a. through combined gold price appreciation (11%) and leasing returns (5%). Supporting services include a Refer & Earn program, live Gold Price Tracking with calculator, Swarn Mandir Abhiyaan for temple donations, Home Visit services, and a Jewellery Purchase option through e-commerce partners. All offerings are backed by MMTC-PAMP for digital gold supply and insured through bank-graded vaults, with the platform emphasizing 24×7 access, no lock-in periods, and 100% ownership retention.
Differentiator
Problem solved
Functional benefit
Brands
- myVault: 100% subsidiary of myGold serving as the dedicated gold leasing arm of the company.
Products and services
- Digital Gold Leasing Service enabling users to lease their digital gold holdings to vetted jewellers and earn up to 5% per annum in additional gold weight as rental income, while retaining 100% ownership of the underlying gold. Users retain 24/7 access with no lock-in period and can withdraw or convert to physical gold anytime.
- Physical Gold Leasing
Quantifiable outcome
- Up to 5% p.a. extra gold weight earned through gold leasing
- +4 more outcomes
Companies that use myGold
Customer profileNamed customers9 records
Segments5 records
Ideal customer profiles4 records
myGold technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature4 records
myGold partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, flagship and supporting.
- MMTC-PAMP India Private LimitedcoreMMTC-PAMP is the digital gold supplier for myGold, providing 24K digital gold backed by physical gold reserves. As a joint venture between Swiss bullion brand PAMP SA and Government of India undertaking MMTC Ltd, MMTC-PAMP is India's only LBMA-accredited refinery with 300+ tonnes annual gold refining capacity. This partnership ensures digital gold quality and authenticity.
- India Bullion and Jewellers Association (IBJA)flagshipIBJA has designated myGold as its Official Gold Leasing Partner. The association signed an MoU with myGold to convert idle gold held in homes into economic power, promoting gold mobilization in India. IBJA provides industry backing and regulatory credibility to myGold's gold leasing operations.
- Sequel Global Precious Logistics (BVC)coreSequel (BVC) provides safe logistics and secure transportation of gold for myGold. The company handles pickup and delivery of physical gold with insurance coverage during transit, ensuring secure handling of valuable gold assets throughout the logistics chain.
- Temple ConnectcoremyGold partnered with Temple Connect to launch the Swarn Daan initiative, enabling mobilization of gold donations to temples across India. The partnership facilitates temple digitization and community engagement, allowing devotees to contribute 24kt digital gold for temple development and gold-clad shikhars.
- ICICI BankcoreICICI Bank serves as the primary banking partner for myGold, providing banking infrastructure for digital transactions, payment processing, and fund transfers. The partnership enables instant bank transfers (IMPS/NEFT/RTGS) for gold sale proceeds and SIP investments.
- HDFC BankcoreHDFC Bank provides banking services and payment infrastructure for myGold's digital gold platform. As a leading Indian private sector bank, HDFC supports secure payment processing and transaction settlements for gold purchases and sales.
- RazorpaysupportingRazorpay provides payment gateway services for myGold's online transactions, enabling secure processing of digital gold purchases and other platform payments through multiple payment methods.
- PhonePesupportingPhonePe serves as a payment partner for myGold, enabling UPI-based payments and digital transactions on the platform for gold purchases and SIP investments.
- myVaultcoremyVault is the 100% owned subsidiary of myGold dedicated to gold leasing operations. Operating at bksmyvault.com, myVault handles the actual gold leasing arm of the business, connecting gold owners with vetted jewellers for gold rental arrangements.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
myGold competitors and assessment
Company assessmentBroad incumbents
- Groww: India's largest retail investment platform with digital gold alongside mutual funds and stocks. Groww competes for the same mass-affluent saver segment as myGold's Gold SIP product.
- INDmoney: Indian wealth-management super-app offering digital gold, mutual funds, and US stocks. INDmoney is a broad incumbent that overlaps with myGold on digital gold and SIP-style accumulation.
- Paytm (Paytm Gold): Paytm offers digital gold via its super-app to hundreds of millions of Indian users. While it does not currently offer leasing, its scale and brand make it the most credible large-fintech entrant into gold leasing.
Emerging players
- Jupiter Money: Indian consumer-fintech neobank that has begun offering gold investment features alongside payments and savings. Jupiter is an emerging player intersecting with myGold's mass-market digital-gold segment.
Others
- MMTC-PAMP: India's only LBMA-accredited refinery and myGold's digital-gold supplier. Although a partner rather than a competitor, MMTC-PAMP's vertical integration via SafeGold makes it a structurally adjacent player to monitor.
- IBJA (India Bullion and Jewellers Association): National bullion trade association that has designated myGold its Official Gold Leasing Partner. IBJA is not a competitor but is the ecosystem gatekeeper whose continued endorsement materially affects myGold's industry standing.
Direct peers
- SafeGold: India's leading digital gold platform, jointly operated by Augmont and MMTC-PAMP—the same upstream supplier myGold uses for its digital gold. SafeGold is the closest direct competitor on digital gold purchase, SIP, and redemption.
- Augmont: Indian gold refinery and precious-metals digital platform. Augmont powers digital gold for multiple fintechs (including SafeGold) and competes with myGold across digital gold, buyback, and SIP products.
Regional players
- Kinesis: International gold- and silver-backed digital currency platform offering yield on precious-metal holdings. Conceptually aligned with myGold's leasing-yield narrative but operating outside India.
- Glint: UK-based payments and savings platform that lets users hold and transact in physical gold. Comparable as an international reference point for making gold productive, though not competing in India.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
myGold social profiles
Digital presencemyGold compliance and trust
Trust signalCompliance3 records
myGold financial estimates
Financial estimateRevenue estimate
Valuation estimate
myGold leadership team
Management profileNumber of profiles
Profiles1 record
myGold subsidiaries and ownership
Company hierarchySubsidiaries1 record
myGold funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
myGold M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about myGold
What does myGold do?
myGold is a fintech platform that enables individual Indian consumers to buy 24K digital gold, accumulate gold through systematic investment plans (Gold SIPs), sell physical gold with transparent XRF-based purity testing, and lease both digital and physical gold holdings to vetted jewellers to earn up to 5% per annum in additional gold weight. Users retain 100% ownership throughout the lease period, supported by legally stamped bailment agreements, MMTC-PAMP-backed digital gold reserves, and a dedicated gold leasing subsidiary (myVault). The platform is delivered through iOS/Android mobile apps, a website, and a physical collection center in Lucknow with home-visit services.
Is myGold a public or private company?
myGold is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was myGold founded?
myGold was founded in 2021. It employs 11 to 50 people.
Where is myGold based?
myGold is headquartered in Lucknow, India, in the Asia region.
How does myGold make money?
Four revenue lines are on record. Gold Leasing Commission is the primary driver. The others are gold Purchase/Sale Margin, gold SIP Management and jewellery Conversion Revenue.
Who are myGold's main competitors?
Broad incumbents on record are Groww, INDmoney and Paytm (Paytm Gold). Jupiter Money is listed as an emerging player. Others are MMTC-PAMP and IBJA (India Bullion and Jewellers Association). Direct peers are SafeGold and Augmont. Regional players are Kinesis and Glint.
Does myGold have an API?
No public API is recorded for myGold.