PowerUp Money Raises $12M to Scale Mutual Fund Advisory
India’s mutual fund ecosystem has expanded rapidly over the past decade, with nearly 60 million investors now participating and SIP inflows at record highs.
PowerUp Money has raised $12 million in Series A funding as it looks to scale access to high-quality, unbiased mutual fund advisory across India. The round was led by Peak XV, with existing investors Accel, Blume Ventures, and Kae Capital doubling down on their earlier commitments. The funding comes just six months after the Bengaluru-based wealthtech platform raised $7.2 million in seed capital, underlining strong investor confidence in its early traction and business model.
India’s mutual fund ecosystem has expanded rapidly over the past decade, with nearly 60 million investors now participating and SIP inflows at record highs. However, access to credible, long-term investment advice has not scaled at the same pace. Many investors continue to rely on informal guidance or short-term performance cues, often at the cost of long-term wealth creation. PowerUp Money aims to bridge this gap through a research-led, zero-commission advisory approach.
Founded in 2024 by Prateek Jindal, PowerUp Money operates as a SEBI-registered Registered Investment Advisor (RIA), ensuring its recommendations remain aligned with investors’ interests. The app allows users to review mutual fund portfolios free of cost and assess overall portfolio health. Within eight months of launch, the platform has onboarded over 5 lakh users and is currently tracking more than ₹65,000 crore in assets.
The company’s flagship subscription offering, PowerUp Elite, provides personalised mutual fund advisory for an annual fee of ₹999, covering fund selection, portfolio reviews, rebalancing, asset allocation, and ongoing guidance backed by institutional-grade research. Since launch, PowerUp Elite has attracted over 25,000 paid members, making it one of the fastest-growing subscription-led mutual fund advisory products in the country.
With the fresh capital, PowerUp Money plans to strengthen its research and advisory teams, scale PowerUp Elite, and roll out PowerUp Infinite, a fully managed advisory service offering 1:1 advisory, goal planning, and customised investment strategies. Over the next three years, the company aims to onboard 10 million users while deepening its role in shaping the future of retail wealth management in India.
