Indian fintech platform PowerUp has successfully secured $12 million in a Series A funding round to advance its mission of providing unbiased investment advisory services. The round was led by prominent venture capital firm Peak XV, with significant participation from existing investors including Accel, Blume Ventures, and Kae Capital. This infusion of capital underscores investor confidence in PowerUp's vision to democratize access to high-quality financial guidance for India's growing retail investor base.
Addressing a Gap in India's Investment Market
India's investment landscape is expanding rapidly, with nearly 60 million mutual fund investors and record-high systematic investment plans (SIPs). However, a significant challenge persists for most working professionals: the scarcity of quality, impartial investment advice. PowerUp aims to bridge this gap by offering a platform that delivers transparent, zero-commission advisory services at a fraction of traditional costs, empowering investors to make more informed decisions.
Demonstrating Rapid Growth and Market Traction
Since its inception, PowerUp has demonstrated remarkable growth, signaling strong market acceptance for its services. In just eight months, the platform has attracted over 500,000 active users and onboarded more than 25,000 members to its premium 'Elite' tier. The company currently tracks over ₹65,500 crore in Assets Under Management (AUM), a testament to the trust it has quickly built within the investment community.
Strategic Allocation of New Capital
Prateek Jindal, Founder and CEO of PowerUp, stated that the new funds will be pivotal in enhancing the company's core offerings. "This fundraise enables us to strengthen our advisory and research capabilities," he explained, outlining plans to scale the PowerUp Elite service and launch new products. The ultimate goal is to establish India's most trusted advisory platform, helping millions invest with greater clarity and confidence.
Expanding the Product Ecosystem
PowerUp is set to roll out several new features to enrich its 'Elite' subscription service, further personalizing the user experience. These enhancements include family portfolio management, a tax-efficient tool for switching from regular to direct funds, and a 'Power Allocation' feature for building customized portfolios. These additions are designed to make the platform more comprehensive and actionable for its members, catering to diverse financial goals.
The company also announced the upcoming launch of 'PowerUp Infinite,' a one-on-one personalized advisory service where a dedicated team of experts will manage user portfolios. Furthermore, PowerUp will soon introduce in-app mutual fund execution, allowing users to seamlessly act on recommendations within a single, integrated platform. This move is expected to streamline the entire investment journey from advice to transaction for its user base.
Investment Details and Business Model
The $12 million funding round was strategically structured, with Peak XV contributing $7 million and existing backers providing the remaining $5 million. Founded in 2024, PowerUp operates with a Registered Investment Advisor (RIA) license, targeting investors with wealth between ₹20 lakh and ₹2 crore. Its subscription-based model, which challenges traditional AUM-based fees, is central to its strategy of providing scalable, unbiased financial guidance.
This Series A funding marks a significant milestone for PowerUp, equipping it with the resources to accelerate its growth and product development. By focusing on technology-driven, unbiased advisory services, the company is well-positioned to address a critical need in the Indian market. As PowerUp expands its offerings and user base, it is poised to play a transformative role in shaping the future of retail investing in India.