PowerUp Money raises $12 Mn in Series A round led by Peak XV

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

The proceeds will be utilized to strengthen its research and advisory capabilities, scale PowerUp Elite, launch PowerUp Infinite, and invest in financial literacy and investor education initiatives, PowerUp Money said in a press release.

Founded in 2024 by Prateek Jindal, PowerUp Money aims to build a research-led, zero-commission mutual fund advisory platform to make high-quality, unbiased investment advice accessible to millions of Indians at a fraction of traditional costs. As a SEBI-registered Registered Investment Advisor (RIA), the platform ensures that recommendations remain fully aligned with investors’ long-term wealth creation goals.

According to the Bengaluru-based startup, its app enables users to review their mutual fund portfolios free of cost and assess portfolio health and performance. The startup’s  flagship offering PowerUp Elite delivers personalized mutual fund advisory directly through the app for an annual fee of Rs 999. The subscription covers fund selection, portfolio reviews, rebalancing, asset allocation, and end-to-end portfolio guidance backed by institution-grade research. 

The company plans to launch PowerUp Infinite, a fully managed investment advisory product offering dedicated 1:1 advisory, goal planning, and personalized investment strategies delivered in a transparent and unbiased manner. Together, PowerUp Elite and PowerUp Infinite will form a comprehensive advisory stack, spanning app-first personalized guidance to fully managed wealth solutions led by expert advisors.

Within eight months of launch, PowerUp claims to have onboarded over 5 lakh users and is currently tracking more than Rs 65,000 crore in assets, indicating strong early user engagement with the platform. PowerUp Elite has also onboarded over 25,000 paid members.  Over the next three years, it  aims to onboard 10 million users, deepening its role in shaping the future of retail wealth management in India.