PowerUp Money secures $12 million in a Series A funding round led by Peak XV

PowerUp Money, a wealthtech platform focused on mutual fund advisory, has raised $12 million in a Series A round led by Peak XV, with participation from existing investors Accel, Blume Ventures, and Kae Capital. The round also saw continued support from 8i Ventures and DevC and comes just six months after the company secured $7.2 million in seed funding.

In a press release, PowerUp Money said the fresh capital will be used to strengthen its research and advisory capabilities, scale its PowerUp Elite offering, launch PowerUp Infinite, and invest in financial literacy and investor education initiatives.

Founded in 2024 by Prateek Jindal, the company is building a research-driven, zero-commission mutual fund advisory platform aimed at making high-quality, unbiased investment advice accessible to millions of Indians at significantly lower costs than traditional models. As a SEBI-registered Registered Investment Advisor (RIA), PowerUp Money ensures its recommendations remain aligned with investors’ long-term wealth creation goals.

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The Bengaluru-based startup said its app allows users to review their mutual fund portfolios free of charge and evaluate overall portfolio health and performance. Its flagship product, PowerUp Elite, offers personalized mutual fund advisory through the app at an annual subscription of Rs 999, covering fund selection, portfolio reviews, rebalancing, asset allocation, and end-to-end portfolio guidance supported by institutional-grade research.

PowerUp Money is also preparing to roll out PowerUp Infinite, a fully managed investment advisory service that will provide dedicated one-on-one advisory, goal planning, and customized investment strategies delivered in a transparent and unbiased manner. Together, PowerUp Elite and PowerUp Infinite are positioned as a comprehensive advisory stack, ranging from app-first personalized guidance to fully managed wealth solutions led by expert advisors.

Within eight months of launch, the platform claims to have onboarded more than 5 lakh users and is currently tracking over Rs 65,000 crore in assets, reflecting strong early traction. PowerUp Elite has already attracted over 25,000 paid subscribers. Over the next three years, PowerUp Money aims to scale to 10 million users, strengthening its role in shaping the future of retail wealth management in India.

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