HT Bureau
GUWAHATI, Dec 22: Mutual fund advisory wealthtech platform PowerUp Money has raised $12 million in a Series A funding round led by Peak XV, with participation from existing investors Accel, Blume Ventures and Kae Capital, all of whom increased their commitments.
The round also saw continued backing from 8i Ventures and DevC, and comes just six months after the company raised $7.2 million in seed funding.
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Founded in 2024 by Prateek Jindal, PowerUp Money is building a research-led, zero-commission mutual fund advisory platform aimed at expanding access to unbiased, long-term investment advice.
As a SEBI-registered Registered Investment Advisor, the company positions itself as aligned with investors’ wealth creation goals rather than product commissions.
India has seen rapid growth in mutual fund participation, with nearly 60 million investors and record SIP inflows.
However, the company noted that access to high-quality advisory services has not scaled proportionately, leaving many investors dependent on informal advice or short-term performance trends.
The PowerUp Money app allows users to review their mutual fund portfolios free of cost and assess portfolio health and performance.
Within eight months of launch, the platform has onboarded over five lakh users and is tracking more than ₹65,000 crore in assets.
Its flagship paid offering, PowerUp Elite, provides personalised advisory services through the app for an annual fee of ₹999 and has attracted over 25,000 subscribers so far.
Announcing the fundraise, Jindal said the fresh capital would be used to strengthen research and advisory capabilities, scale PowerUp Elite and launch a new fully managed offering, PowerUp Infinite.
Investors said the company’s technology-led approach to scaling mutual fund advisory addresses a critical gap in India’s wealth management ecosystem.
Over the next three years, PowerUp Money aims to onboard 10 million users and expand its role in retail wealth management across the country.
