Mutual fund advisory platform PowerUp Money raises over Rs 100 crore to scale its business

PowerUp Money, a mutual fund advisory wealthtech platform, has raised $12 million (about Rs 107.4 crore) in a Series A funding round led by Peak XV, with participation from existing investors Accel, Blume Ventures and Kae Capital.

The round also saw continued backing from 8i Ventures and DevC, and comes just six months after the startup raised $7.1 million in seed funding.

Founded in 2024 by Prateek Jindal, the Bengaluru-based startup is building a research-led, zero-commission mutual fund advisory platform focused on providing unbiased investment advice at significantly lower costs than traditional models.

PowerUp Money operates as a SEBI-registered Registered Investment Advisor (RIA), a structure it says ensures advisory recommendations remain aligned with long-term investor outcomes rather than product commissions.

The startup wil use the raised capital to strengthen its research and advisory capabilities, scale its flagship subscription product PowerUp Elite, launch a new fully managed offering called PowerUp Infinite, and expand initiatives focused on financial literacy and investor education.

PowerUp Money’s app allows users to review their mutual fund portfolios at no cost, including assessments of portfolio health and performance. Its paid product, PowerUp Elite, offers personalised mutual fund advisory through the app for an annual fee of Rs 999. The service includes fund selection, portfolio reviews, rebalancing, asset allocation and end-to-end portfolio guidance backed by institution-grade research.

The startup is also preparing to launch PowerUp Infinite, positioned as a fully managed investment advisory product with dedicated one-on-one advisory, goal planning and personalised investment strategies delivered on a transparent and unbiased basis. Together, PowerUp Elite and PowerUp Infinite are expected to form a full advisory stack, ranging from app-first guidance to advisor-led managed wealth solutions.

Within eight months of launch, PowerUp Money claims to have onboarded over 5 lakh users and is currently tracking more than Rs 65,000 crore in assets on its platform. Its paid offering, PowerUp Elite, has crossed 25,000 subscribers, according to the company.

“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,” founder and chief executive Prateek Jindal said. Over the next three years, the company aims to onboard 10 million users as it looks to deepen its presence in India’s retail wealth management market.