Bengaluru-based wealthtech startup PowerUp Money has raised $10 million. The funding round was led by Flourish Ventures, with participation from several existing investors. The company operates a platform for managing mutual fund investments.
Investor participation
Existing investors included Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures, and DeVC. The company operates as a SEBI-registered investment adviser. It earns revenue from customer-paid fees rather than commissions.
Company background and scale
The startup was founded in 2024 by Prateek Jindal, who also co-founded Uni Cards. PowerUp Money claims that over 1.5 million investors use its platform. These customers track mutual fund portfolios worth more than ₹2.5 lakh crore.
Expanding service offerings
Its paid advisory subscription, PowerUp Elite, has more than 100,000 members. The company also offers a managed wealth service called Infinite, which has accumulated nearly ₹500 crore in assets. It recently launched Elite Prime, a digital advisory service with an AI wealth coach.
PowerUp Money will use the capital to expand its AI-led wealth management offerings. The company also plans to scale its managed advisory business. The funds will help develop personalized financial planning solutions for Indian investors.