Mutual fund advisory platform PowerUp Money has raised $12 million, or about Rs 107.4 crore, in a Series A funding round led by Peak XV. The round also saw participation from existing investors Accel, Blume Ventures and Kae Capital. Continued support came from 8i Ventures and DevC, reinforcing investor confidence in the company’s growth strategy. This funding comes just six months after PowerUp Money raised $7.1 million in its seed round, marking a rapid follow-on investment within its first year of operations.
A Research-Driven Advisory Model Built for Transparency
Founded in 2024 by Prateek Jindal, PowerUp Money is a Bengaluru-based wealthtech startup focused on mutual fund advisory services. The platform follows a research-led approach and operates on a zero-commission model, positioning itself as an alternative to traditional distribution-driven advisory structures. By removing commissions, the company aims to ensure that investment advice remains unbiased and aligned with long-term investor interests rather than product-linked incentives.
PowerUp Money is registered with the Securities and Exchange Board of India as a Registered Investment Advisor. According to the company, this regulatory structure helps maintain clear separation between advice and product sales, which it believes is critical for building trust among retail investors.
Capital to Fuel Product Expansion and Advisory Depth
The company plans to deploy the newly raised capital across multiple growth initiatives. These include strengthening its research and advisory teams, scaling its flagship subscription product PowerUp Elite, and launching a new fully managed advisory offering called PowerUp Infinite. A portion of the funding will also be used to expand efforts around financial literacy and investor education, which the startup sees as a key part of long-term customer engagement.
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Free Portfolio Reviews as an Entry Point
PowerUp Money’s mobile application allows users to review their mutual fund portfolios at no cost. The app provides assessments covering portfolio health, diversification and performance, helping investors understand how their existing investments are positioned. This free review feature acts as an entry point for users who may later opt for paid advisory services.
PowerUp Elite Gains Traction Among Retail Investors
The company’s paid subscription product, PowerUp Elite, offers personalised mutual fund advisory through the app for an annual fee of Rs 999. The service includes fund selection, regular portfolio reviews, rebalancing recommendations, asset allocation guidance and end-to-end portfolio support. All advice is backed by institution-grade research, according to the company.
Since launch, PowerUp Elite has seen steady adoption. PowerUp Money says the product has crossed 25,000 subscribers, reflecting growing demand for low-cost, unbiased advisory solutions among retail investors.
Upcoming Launch of Fully Managed Advisory Service
PowerUp Money is also preparing to roll out PowerUp Infinite, which will be positioned as a fully managed investment advisory offering. The product is designed to provide dedicated one-on-one advisory, goal-based financial planning and personalised investment strategies. The company states that the service will operate on a transparent and unbiased basis, consistent with its zero-commission philosophy.
Together, PowerUp Elite and PowerUp Infinite are expected to form a comprehensive advisory stack. This would allow the platform to serve users seeking app-based guidance as well as those looking for more hands-on, advisor-led wealth management solutions.
Rapid User Growth and Asset Tracking Milestones
Within eight months of its launch, PowerUp Money reports that it has onboarded more than 5 lakh users. The platform is currently tracking over Rs 65,000 crore in assets, reflecting the scale of portfolios being monitored through its advisory tools. While these assets are tracked rather than managed directly, the figures indicate strong user engagement with the platform’s portfolio analysis features.
Long-Term Vision in Retail Wealth Management
Commenting on the fundraise, founder and chief executive Prateek Jindal said, “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.”
Over the next three years, PowerUp Money aims to onboard 10 million users as it looks to deepen its presence in India’s retail wealth management market and expand access to transparent, research-backed investment advice.
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