Wealthtech startup aims to reshape retail investing with financial advisory and direct mutual fund solutions

In a promising move for India’s growing wealthtech sector, PowerUp Money, a digital investment and advisory startup, has raised $7.1 million in its first institutional funding round. The round was co-led by marquee investors Accel, Blume Ventures, and Kae Capital, with additional participation from 8i Ventures and DeVC.

Strategic Use of Funds: Research, Advisory Products, and User Growth

The Bengaluru-based startup plans to use the capital to:

• Strengthen its in-house research and data science team
• Expand its advisory product suite, including tools that forecast financial freedom timelines
• Accelerate customer acquisition through both free and premium subscription models

The company is positioning itself as a next-gen financial partner for Indian retail investors by offering goal-based planning and data-driven insights, especially through its flagship product, “Power Age”. This tool estimates when users can achieve financial independence and guides them on how much they need to save to reach that goal.

From Incubation to Independence

Founded in April 2024 by Prateek Jindal, the former co-founder of Uni Cards, PowerUp Money started as an internal project within Uni. With this funding, the venture has now spun off as an independent company. Jindal has reportedly been developing the concept since October 2023, aiming to provide retail investors with smarter financial planning solutions.

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Fast-Growing Traction: ₹3,000 Crore in AUM

Though still in its early stages, PowerUp Money has already made significant strides. The startup claims to be managing over ₹3,000 crore (around $350 million) in assets through its platform, serving more than 25,000 users.

The company offers direct mutual fund investments via its mobile platform, and plans to scale its offerings with both free tools and paid advisory tiers. Its focus remains on retail investors with portfolios between ₹5 lakh and ₹2 crore, a largely under-served segment in the Indian financial ecosystem.

Investor Confidence: Who’s Backing PowerUp?

This funding round marks a vote of confidence from some of India’s most respected venture capital firms:

• Accel, known for backing Flipkart and Freshworks
• Blume Ventures, a major player in early-stage Indian tech investments
• Kae Capital, which has previously funded startups like Zetwerk and Wysa
• 8i Ventures and DeVC, who bring deep fintech expertise to the table

Their support signals trust in PowerUp’s potential to emerge as a strong player in the wealthtech ecosystem.

Riding the Wealthtech Boom in India

PowerUp’s raise is part of a broader surge in investor interest in Indian wealthtech. Since the startup’s conceptual inception in October 2023, the sector has seen over $250 million raised across 15 deals, involving competitors like:

• Neo
• Dezerv
• Centricity
• Stable Money
• Fisdom
• Univest
• InvestorAi
• Wealthy

For example, Stable Money recently secured $20 million in funding from Fundamentum, a fund co-founded by Infosys co-founder Nandan Nilekani, to expand its fixed-income investment services.

Founder’s Vision: Financial Planning for the Next Billion

Jindal emphasizes that while India already has around 55 million mutual fund investors, that number is projected to nearly double in the next 3-4 years, driven largely by investors in Tier 2 and Tier 3 cities. PowerUp is positioning itself to become their go-to platform for low-cost, high-quality advisory and investment tools.

What Sets PowerUp Apart?

• Innovative tools: Features like “Power Age” offer personalized, goal-driven insights
• Frictionless onboarding: Mobile-first with paperless KYC and real-time portfolio tracking
• Subscription-based monetization: A hybrid model ensuring scale with sustainability
• Advisory-first approach: A differentiator in a market crowded with DIY investment apps

What’s Next?

With a team of just 30-35 employees, PowerUp is now set to expand rapidly across:

• Product development
• Advisory services
• User education
• Marketing and distribution partnerships

Backed by strong investor support and growing market demand, PowerUp aims to democratize financial freedom for millions of Indians.

Conclusion:

PowerUp Money’s funding round of $7.1 million represents an important development in India’s emergent wealthtech sector. With a focus on providing personalized financial advice, institutional support from investors and a mobile-first strategy, PowerUp Money is positioned to become a household name in retail wealth management.

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