Chennai: PowerUp Money, a mutual fund advisory wealthtech platform, today announced that it has raised $12 million in Series A funding, led by Peak XV, with participation from existing investors Accel, Blume Ventures, and Kae Capital, who doubled down on their earlier 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.
India has witnessed a sharp rise in mutual fund adoption over the past decade, with nearly 60 million investors now participating in mutual funds and SIP inflows at an all-time high. However, access to high-quality, unbiased investment advice has not scaled at the same pace. Many investors continue to rely on informal advice or short-term performance indicators, often resulting in suboptimal long-term outcomes.
Founded in 2024 by Prateek Jindal, PowerUp Money is building a research-led, zero-commission mutual fund advisory platform to make high-quality, unbiased investment advice accessible to millions of Indians at a fraction of traditional costs. As a SEBI-registered Registered Investment Advisor (RIA), the platform ensures that recommendations remain fully aligned with investors’ long-term wealth creation goals.
The PowerUp Money app enables 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 5 lakh users and is currently tracking more than ₹65,000 crore in assets, indicating strong early user engagement with the platform.
PowerUp Money’s flagship offering, PowerUp Elite, delivers personalised mutual fund advisory directly through the app for an annual fee of ₹999. Designed for serious investors, the subscription covers fund selection, portfolio reviews, rebalancing, asset allocation, and end-to-end portfolio guidance backed by institution-grade research. Since launch, PowerUp Elite has onboarded over 25,000 paid members, emerging as one of India’s fastest-growing subscription-led mutual fund advisory offerings.
“High-quality, unbiased mutual fund advice should not be a privilege,” said Prateek Jindal, Founder & CEO, PowerUp Money. “As more Indians participate in mutual funds, the real gap lies in access to credible, research-led advice that helps investors make disciplined, long-term decisions. 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.”
Commenting on the investment, Navendu Sharma, Principal at Peak XV, said, “India needs a technology-led platform to deliver financial advice at population scale. Mutual funds are the natural gateway to financial assets for mass and affluent Indians. PowerUp has a clever yet simple approach to scaling MF advisory. We are excited to see the team deepen their MF suite and over time build the dominant wealth and asset management platform for the region.”
Commenting on the company’s progress, Prayank Swaroop, Partner at Accel, said “What PowerUp Money has built with Elite is particularly compelling. They’ve successfully productised high-quality mutual fund advisory—making it accessible at scale while retaining a high degree of personalisation and quality. That balance is extremely difficult to achieve in wealth management.”
The company is also preparing to launch PowerUp Infinite, a fully managed investment advisory product offering dedicated 1:1 advisory, goal planning, and personalised investment strategies delivered in a transparent and unbiased manner. Together, PowerUp Elite and PowerUp Infinite will form a comprehensive advisory stack, spanning app-first personalised guidance to fully managed wealth solutions led by expert advisors.
With this fundraise, PowerUp Money plans to further strengthen its research and advisory capabilities, scale PowerUp Elite, launch PowerUp Infinite, and invest in financial literacy and investor education initiatives. Over the next three years, the company aims to onboard 10 million users, deepening its role in shaping the future of retail wealth management in India.
