The Indian wealth technology environment has achieved a big milestone with PowerUp Money declaring a $12 million Series A financing round. This massive investment was spearheaded by the leading venture capital company, Peak XV, formerly referred to as Sequoia India and Southeast Asia. Accel, Blume Ventures, and Kae Capital were also included in the round of first-time investors, along with the ongoing support of 8i Ventures and DevC. This capital raise is a speedy advancement of the Bengaluru-based startup, just six months following its ability to raise more than $7 million in a primary seed funding round.
In 2024, PowerUp Money was founded with an ambitious mission by Prateek Jindal to fill the currently increasing advice gap in the Indian mutual fund industry. As the quantity of retail investors joining the mutual fund market has increased markedly over the last several years, the quality and unbiased advice have lagged.
Numerous new investors end up using informal recommendations by friends or family or making decisions based only on the short-term performance indicators, which, in most cases, have poor long-term financial results. To overcome this, PowerUp Money is a zero-commission mutual fund advisory service that is fully registered with the Securities and Exchange Board of India as a Registered Investment Advisor.
The core philosophy of the company is founded on the notion that financial advice of high quality should not be a privilege of the rich. Founder and CEO Prateek Jindal has stated that with increasing numbers of Indians going through their investment journeys, the real test will be to offer them credible research-based advice that can lead them to make disciplined and long-term investments.
The platform also does not use the traditional commission-based model, as it is a Registered Investment Advisor. The company does not receive money as a fund manufacturer to sell certain products, but this is positioned as an objective companion of the investor, and the company receives a clear subscription fee for its professional services.
The PowerUp Money app has recorded impressive traction in the competitive fintech industry in only eight months since its debut in the market. The firm has managed to onboard over five hundred thousand users and is presently managing an asset in excess of sixty-five thousand crore rupees through its platform. This fast uptake underscores a strong consumer interest in digital-first and advisory-based wealth management solutions.
Its core product in the growth strategy is its flagship subscription offer, which is called the PowerUp Elite. Elite members have a range of customized services at an annual fee of ₹900 and ₹99, such as a thorough review of their portfolio, rebalancing of their portfolios, and recommendation of their asset allocation based on their data.
The new capital will play a critical role in scaling the core of the product, which is the proprietary advisory and research engine that creates such customized advice. PowerUp Money intends to gain a lot of power in building stronger research materials and regular assessment systems of funds.
Such technological investments aim to have a greater insight into user portfolios and to develop improved monitoring mechanisms that will warn the investors of any drastic change in fund performance or market situations. The goal of the company is to ensure that it comes out of the basic fund selection and offer a complete wealth management experience, building on a stronger research basis that keeps changing as the user expands their financial aspirations.
The company is working towards rolling out several new functions that seek to take the entire investing experience under one digital roof. The Family Portfolios feature is one of the most expected ones, as it will enable users to access and control the mutual fund investments of the rest of the family through the same application. The platform is also launching a feature known as Power Allocation, which will assist investors in creating the perfect mix of portfolio across the Systematic Investment Plans, lump sum investments, and holdings, all specific to their unique risk appetite.
A major strategic change is likely to happen in February of 2026 when PowerUp Money will be able to execute direct mutual funds on its application. This change will enable users to make their own recommendations and respond to them without necessarily moving to different platforms to either sell or purchase funds.
The company is about to launch PowerUp Infinite, a one-to-one customized consultancy service, in the beta stage. This service will be a high-touch offering in which a team of professionals will actively manage user portfolios and give them a transparent and unbiased alternative to the traditional methods of private wealth management that many investors need to view as a black box.
The Peak XV-led Series A investment of $12 million is an effective confirmation of the fact that the research-based, subscription-based advisory concept works in India. With its emphasis on financial literacy and objective advice, PowerUp Money is poised to become a revolutionary force in the way the mutual fund investments of millions of Indians engage in mutual fund investments. In response to the changing demands of an increasingly advanced and disciplined retail investor base, the company has been keen on developing a zero-commission, transparent ecosystem. With the ability to scale and add direct execution and personalized expert management, the firm is on its path to emerge as one of the most reliable wealth management solutions in India.