PowerUp Money, a Bengaluru-based wealthtech startup focused on mutual fund advisory, has raised $12 million (approximately Rs 107.4 crore) in a Series A funding round led by Peak XV, with participation from existing investors Accel, Blume Ventures, and Kae Capital. The round also saw continued backing from 8i Ventures and DevC, coming just six months after the company secured $7.1 million in seed funding, underlining strong investor confidence in its advisory-first model.
Founded in 2024 by Prateek Jindal, PowerUp Money is building a research-driven, zero-commission mutual fund advisory platform aimed at delivering unbiased investment advice at a fraction of the cost of traditional distribution-led models. The company operates as a SEBI-registered Registered Investment Advisor (RIA), a structure designed to ensure that recommendations are aligned with long-term investor outcomes rather than commission incentives.
The newly raised capital will be used to deepen the startup’s research and advisory capabilities, scale its flagship subscription product PowerUp Elite, and launch a new fully managed offering called PowerUp Infinite. PowerUp Money also plans to expand initiatives focused on financial literacy and investor education, positioning itself as a long-term partner for retail investors navigating India’s growing mutual fund market.
PowerUp Money’s mobile app allows users to analyse their mutual fund portfolios at no cost, offering insights into portfolio health, diversification, and performance. Its paid offering, PowerUp Elite, is priced at an annual fee of Rs 999 and provides personalised advisory services through the app. These include mutual fund selection, portfolio reviews, rebalancing, asset allocation, and end-to-end portfolio guidance backed by institutional-grade research.
The company is also preparing to roll out PowerUp Infinite, a fully managed investment advisory product that will offer one-on-one advisory, goal-based planning, and customised investment strategies. Together, PowerUp Elite and PowerUp Infinite are designed to form a comprehensive advisory stack, spanning app-first guidance to advisor-led wealth management.
Within eight months of launch, PowerUp Money says it has onboarded more than 5 lakh users and is currently tracking over Rs 65,000 crore in assets on its platform. Its paid product, PowerUp Elite, has crossed 25,000 subscribers.
“This fundraise enables us to strengthen our advisory and research capabilities, scale PowerUp Elite, and launch PowerUp Infinite, as we work towards building India’s most trusted, zero-commission mutual fund advisory platform and help millions of investors invest with clarity and confidence,” founder and chief executive Prateek Jindal said. Over the next three years, the company aims to onboard 10 million users as it expands its footprint in India’s retail wealth management ecosystem.
...){kind=link}