In India, jewellery is considered a highly coveted asset class and one of the most-favoured consumer goods. Although it is a traditional industry, retailers in this space required a digital makeover in the wake of the Covid-19 pandemic for business continuity and growth. Set up in 2021, New Delhi-based Goldsetu has developed a mobile-first SaaS platform to help jewellers set up digital storefronts, automate workflow and offer online payment, along with digital passbooks for their customers. Additionally, the startup provides access to smart dashboards, product and customer analytics and CRM tools required for seamless customer onboarding, order tracking, collection and management.
Goldsetu is still in the pre-revenue stage but claims to have acquired 300+ jewellers just three weeks into the beta launch. It is also working on a suite of value-added services such as gold savings plans, jewellery insurance, digital gold and gold loans to empower jewellery retailers. The platform has adopted a freemium model where all commerce-related features, including storefront and marketing tools, are free. However, it will charge a usage-based transaction fee for its value-add features to be launched this year.