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Milestone · Financial Services

IndiaGold achieves profit and secures NBFC licence

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Date
Company
IndiaGold
What it does
Gold-backed credit operator
Kind
Milestone
Based in
Gurugram
Sector
Financial Services

What they do

IndiaGold is a Gurugram-based fintech offering gold loans

What happened

The company achieved profitability and obtained an NBFC licence in the current financial year

Why it matters

Gold loan originations surged 53% YoY, signaling strong market demand

The details

  • IndiaGold has achieved profit-after-tax (PAT) profitability in the current financial year.
  • The company secured a non-banking financial company (NBFC) licence to expand its lending operations.
  • The firm is headquartered in Gurugram, India.
  • Total funding raised to date stands at $24 million.
  • The latest funding round occurred in November 2022.
  • The company offers gold-backed credit products to borrowers.
  • These events mark significant operational milestones for the startup.

The bigger picture

  • Retail loans grew 18% YoY in Q2 FY26 according to CRIF High Mark data.
  • Gold loans expanded 35.8% YoY in Q2 FY26, showing robust sector growth.
  • Gold-loan originations surged 53% YoY to Rs 6.05 lakh crore in Q2 FY26.
  • Loans above Rs 5 lakh account for over 30% of total originations by value.
  • Nearly two-thirds of originations come from cities beyond top nine metros.

About the business

  • IndiaGold provides gold-backed credit services to customers.
  • The company operates under the umbrella of Flat White Capital.
  • Its headquarters are located in Gurugram.
  • It competes with digital-first player Rupeek.
  • Traditional competitors include Muthoot Finance and Manappuram Finance.
  • New-to-credit customers accounted for around 15% of origination value.
  • Self-employed individuals use loans for business-linked needs.

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