PowerUp Money, a mutual fund advisory wealthtech platform, has 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. As a SEBI-registered Registered Investment Advisor (RIA), the platform ensures that recommendations remain fully aligned with investors’ long-term wealth creation goals. 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. “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.” Commenting on the investment, Navendu Sharma, Principal at Peak XV, said, “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.” Commenting on the company’s progress, Prayank Swaroop, Partner at Accel, said, “What PowerUp Money has built with Elite is particularly compelling.” 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. 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.
