Exclusive Interview with Mr. Veer Mishra, Founder of Plus Gold, a new-age financial technology jewellery savings platform

Veer Mishra is the Founder of Plus Gold, a new-age financial technology jewellery savings platform that lets Indian homemakers save for their next big jewellery purchase by making payments in advance, earn lucrative returns, and discover discounts and offers from brands and jewellers across India. Veer is a serial entrepreneur with over a decade’s experience across various startups, and his current responsibilities as the Founder at Plus Gold include strategy formulation, product development and marketing.

Reimagining jewellery investments for millions of homemakers in India, Plus Gold is an innovative financial technology jewellery savings platform that enables users to save for jewellery with lucrative returns, discover jewellers across the country, and make their next big jewellery purchase. Founded by Veer Mishra and Raj Parakh, Plus Gold provides friction-less discovery and savings for jewellery, ensuring users with the utmost trust, transparency and safety. Available over Google’s Play Store, Plus Gold’s application is free-to-use and offers an attractive 10% internal rate of return (IRR) on savings for users.

We interviewed Mr. Veer Mishra to know more about Plus Gold. Here’s how it went:

1. Highlight the journey of Plus Gold and the launch of diversified services since inception:

Plus Gold started with the vision to make gold savings accessible and convenient for everyone. Since its inception, the company has expanded its offerings from flexible Gold savings plans to Referral programs as well as successful campaigns and contests such as their Gold Rush Festivals. The journey has been marked by continuous innovation and a user-first approach, leading to the introduction of features that resonate with both individual users and businesses.

2. What are the product offerings?

Plus Gold offers a variety of products designed to meet the diverse needs of its customers:

• Gold Savings Plan: A systematic investment plan that helps users accumulate gold over time. Users can either enrol in an SIP or buy Gold through the One-Time savings plan.
• Instant Gold Purchase: Users can buy gold instantly, which is then stored in secure digital vaults.
• Easy Redemption: The users can easily redeem their Gold savings either in the form of Jewellery with the company’s 200+ trusted jeweller partners across India, or in the form of a Gold Coin. The highlight is that, the users can also withdraw their savings in the form of cash, thereby providing the users flexibility or redemption.
• Gold Rush Festival: Their Gold Rush Festival is a contest that takes place every month and on major events and festivals such as Dhanteras, Rakhi and Akshaya Tritiya. The users can participate in the contest by completing some tasks such as Refer & Earn, App Reviews along with creating some SIPs or investing in a One-Time Gold savings plan. The users compete on the leaderboard by completing these tasks against some reward points. The winner of the contest is rewarded with Gold worth 1gm, 5gm, 10gm and so on. So far, Plus Gold has conducted 4 Gold Rush Festivals successfully where over 40K+ users have participated and 100+ users have won different amounts of Gold.

Plus Gold App is a platform that integrates all these services, allowing users to manage their savings seamlessly.

3. Can you highlight the company’s achievements and milestones?

Since its launch, Plus Gold has achieved several milestones:

Widespread Adoption: The Plus Gold app has seen remarkable growth, with over 4 lakh Indians trusting Plus Gold with their savings. This widespread adoption is a testament to the platform’s reliability, ease of use, and the value it offers to users looking to secure their financial future through gold investments. The app’s user base continues to grow as more people discover the convenience of digital gold transactions.

User Engagement: Plus Gold has fostered a strong connection with its user base, particularly during key festivals like Diwali, Akshaya Tritiya, and Raksha Bandhan. These culturally significant times have seen a surge in transactions and engagement, driven by tailored marketing campaigns and offers. The high levels of user activity during these periods underscore the trust and loyalty that Plus Gold has built with its customers.

Shark Tank India Season 3: A pivotal moment in Plus Gold’s journey was its appearance on the 3rd season of Shark Tank India in February 2024. The company made a strong impression and successfully secured funding from Varun Dua, the founder of Acko India. This exposure not only provided a financial boost but also significantly increased brand visibility. Following the show, Plus Gold experienced a surge in key performance indicators (KPIs), including user acquisition, transaction volume, and brand recognition.

Brand Ambassador Partnership with Sonakshi Sinha: Another major milestone for Plus Gold was onboarding Bollywood actress Sonakshi Sinha as the brand ambassador. Her association with the brand has been a major success, leading to a series of impactful marketing campaigns that have further elevated Plus Gold’s profile. The campaigns have resonated well with the target audience, enhancing brand recall and attracting a broader demographic of users.

4. What is the technology behind Plus Gold?

Plus Gold is at the forefront of technological innovation, leveraging cutting-edge technology to create a platform that prioritizes security, transparency, and user convenience. One of the core technologies that underpin the platform is blockchain, a system known for its ability to provide a secure and tamper-proof record of transactions. Plus Gold ensures that every transaction conducted on the platform is immutable and transparent, giving users the confidence that their investments are both safe and verifiable.

The security of users’ gold holdings is further enhanced by advanced encryption methods that protect the digital vaults. These vaults are fortified with state-of-the-art encryption, ensuring that all data and assets are safeguarded against unauthorized access or cyber threats. Plus Gold goes a step further by partnering with Augmont, a trusted name in the precious metals industry, to securely store the physical gold that backs the digital assets. Augmont’s facilities adhere to the highest standards of security and are fully insured, providing an additional layer of assurance to Plus Gold’s users.

Moreover, the platform is designed with a user-centric approach, integrating these sophisticated technologies in a way that makes the investment process seamless and accessible. The interface is intuitive, allowing users to easily navigate the app, track their investments, and make transactions with just a few clicks. Whether a user is purchasing gold for the first time or managing a portfolio of assets, Plus Gold’s technology ensures that the experience is smooth, secure, and fully transparent from start to finish.

5. How is Plus Gold different from other brands?

Plus Gold stands out in the market through its unwavering commitment to a customer-centric approach and a range of innovative product offerings designed to meet the diverse needs of its users. Unlike traditional gold investment platforms that often focus solely on the transactional aspect, Plus Gold is dedicated to making gold investment not just a financial decision but a culturally significant and accessible experience for everyone. The platform is designed to cater to all demographics, ensuring that gold, a symbol of wealth and prosperity, is within reach for both seasoned investors and those new to the world of precious metals.

One of the key differentiators of Plus Gold is its emphasis on making gold investment as simple and versatile as possible. The platform offers tailored solutions that fit various life occasions, making it easier for users to incorporate gold into their long-term financial planning. Whether users are looking to invest for future financial security or to accumulate gold over time, Plus Gold provides a seamless experience that prioritizes convenience and accessibility.

In addition to accessibility and innovation, Plus Gold places a strong emphasis on cultural integration, recognizing the deep-rooted significance of gold in Indian traditions and celebrations. The platform actively promotes purchases during auspicious times, such as Akshaya Tritiya, Dhanteras, and Diwali, when buying gold is considered particularly beneficial. By aligning its offerings with these culturally significant moments, Plus Gold not only resonates with its customers on a deeper level but also helps them make investment decisions that are both financially sound and culturally meaningful.

Furthermore, Plus Gold continuously evolves its product lineup to meet the changing needs of its users, ensuring that its offerings remain relevant and valuable in a competitive market. The platform’s ability to blend tradition with innovation, all while maintaining a strong focus on user experience, is what truly sets it apart from competitors. This unique combination of accessibility, cultural significance, and innovative product development has established Plus Gold as a leader in the digital gold space, offering a holistic approach to gold investment that goes beyond mere transactions.

6. What are the top 3 focus areas/core business issues that you wish to streamline?

User Experience: At Plus Gold, enhancing the user interface and experience on the app is a continuous journey. Plus Gold are committed to making the platform as intuitive and user-friendly as possible, recognizing that a seamless experience is key to user satisfaction and retention. From simplifying navigation to optimizing transaction processes, our goal is to create a platform that not only meets but exceeds user expectations, making gold investment a hassle-free experience for everyone.

Security: Security is a top priority at Plus Gold, and they are dedicated to staying at the forefront of security technology to protect our users’ data and investments. The platform undergoes regular security audits and updates to address emerging risks, ensuring that users can trust that their personal information and assets are fully protected. In a digital age where security concerns are paramount, Plus Gold is committed to providing a safe and secure environment for all transactions, giving users peace of mind as they invest in their future.

Product Diversification: Plus Gold is focused on expanding its product offerings to meet the evolving needs of our diverse user base. Each investor has unique goals, and the aim is to provide a range of personalized and customizable products that cater to these individual preferences. Whether it’s introducing new savings plans, flexible investment options, or culturally significant products, their approach to product diversification is centered around adding value and convenience to users. By continuously innovating and expanding their portfolio, Plus Gold ensures that the platform remains relevant and appealing, offering something for everyone, regardless of their investment strategy or financial goals.

7. How do you use technology and data science to create products that allow savings and help users to plan for their next jewellery purchase?

Plus Gold utilizes data science to analyze user behavior, preferences, and market trends. This allows the platform to offer personalized savings plans and recommendations that help users accumulate gold efficiently. The technology behind the app also allows users to set goals for their next jewelry purchase, track their progress, and make adjustments to their savings plans as needed.

8. What are the business goals that you have set for yourself this quarter?

This quarter, Plus Gold aims to:

This quarter, Plus Gold has set ambitious goals to drive growth, innovation, and user satisfaction. These goals are aligned with their broader mission to make gold investment more accessible, secure, and rewarding for everyone.

Increase User Base: One of Plus Gold’s primary objectives this quarter is to significantly expand the user base. They are targeting a substantial increase in the number of active users on the platform through a combination of strategic marketing campaigns, partnerships, and referrals. By focusing on key demographics and regions, they aim to attract new users who are looking for a reliable and user-friendly platform for their gold investments. Additionally, they are enhancing our onboarding process to ensure that new users have a seamless and positive experience from the moment they sign up. This focus on growth is crucial for maintaining our competitive edge and achieving long-term success in the digital gold market.

Launch New Features: Innovation is at the heart of Plus Gold, and this quarter, they are committed to launching several new features designed to enhance user engagement and provide more value to their customers. These features will include personalized investment tools, improved user interfaces, and new functionalities that make managing and growing gold investments even easier. By listening to user feedback and staying ahead of market trends, they are developing features that not only meet current needs but also anticipate future demands. These innovations are expected to boost user satisfaction, increase retention rates, and solidify Plus Gold’s reputation as a leader in the digital gold industry.