Fello provides direct access to Augmont's gold investment services that seamlessly align with its distinct reward-based saving system
FinTech BizNews Service
Mumbai, January 17, 2024: Fello - India’s first rewarding savings platform has announced its strategic partnership with India’s leading gold retailer, Augmont. As part of the dynamic alliance, Fello and Augmont will offer Gold Pro - a gold leasing scheme - to its users, enabling them to securely lease their gold through the Fello app and earn up to 15.5% of interest.
Through this partnership, Fello provides direct access to Augmont’s gold investment services that seamlessly align with its distinct reward-based saving system. Users saving through Fello will get an opportunity to bolster their funds and earn tickets for every Rs 500 saved, potentially winning rewards like Mahindra Thar, iPhone, and digital gold.
Prize-linked savings (PLS) have proved to be transformational to the investment landscape in the US, UK, and UAE. While the concept of PLS is still nascent in India, Fello distinguishes itself as a pioneer. By introducing a rewarding and engaging approach to savings for the first time in the Indian market, Fello is actively taking significant steps to shepherd young India towards healthy savings and investments.
Thrilled about transforming new-age savings by merging financial growth with the excitement of rewards, Mr. Manish Maryada, Co-founder, and CEO of Fello, commented, “We at Fello are elated to announce our strategic partnership with Augmont, which marks a significant milestone in our mission to revolutionise the savings landscape in India. With Augmont's expertise in gold investments, we can now offer our users an exciting new avenue to grow their savings, whilst making savings not just a financial necessity but an engaging and rewarding experience.”
Furthermore, the partnership brings the unique benefit of allowing Fello users to diversify their investment portfolios with gold, a traditionally valued asset. Additionally, this collaboration enhances the platform’s appeal to a broader user base seeking diverse investment opportunities by leveraging the benefit of convenience-centric gold investments, via Augmont’s flawless services.
Commenting on this enterprising venture, Mr Sachin Kothari, Director of Augmont - Gold For All, said, “Delighted to foray into a dynamic collaboration with Fello, we are gearing to leverage this opportunity to work towards achieving our shared vision. With Fello’s undeterred support, we’re heading on a transformative journey, rooted in forging lasting connections with a financially literate and tech-savvy audience. Together, we’re looking forward to accelerating the growth of both the prize-linked savings ecosystem and the gold investment sectors in India.”
The eminent partnership between the rewarding savings app and Augmont marks the beginning of a two-fold journey rooted in paving a path towards a financially protected India. With their shared vision, both companies are dedicated to advancing India’s financial well-being with the introduction of innovative saving solutions for the populace.
