PowerUp Money, a wealthtech platform focused on mutual fund advisory, has raised $12 million in a Series A funding round led by Peak XV.
In addition, existing investors Accel, Blume Ventures, Kae Capital, 8i Ventures, and DevC also participated in the round.
Notably, the fundraising comes just six months after the company secured $7.2 million in seed funding, highlighting strong investor confidence.
The company will deploy the fresh capital to strengthen its research and advisory capabilities. Furthermore, it plans to scale PowerUp Elite, launch PowerUp Infinite, and expand its financial literacy and investor education initiatives.
Founded in 2024 by Prateek Jindal, PowerUp Money is building a research-led, zero-commission mutual fund advisory platform. Through this approach, the company therefore aims 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), PowerUp Money ensures that all recommendations remain aligned with investors’ long-term wealth creation objectives.
Meanwhile, the PowerUp Money app enables users to review their mutual fund portfolios free of cost and actively evaluate portfolio health and performance. Within just eight months of launch, the platform onboarded over 5 lakh users and now tracks more than ₹65,000 crore in assets, underscoring strong early engagement.
At the core of its offerings, PowerUp Elite provides personalised mutual fund advisory directly through the app for an annual fee of ₹999. Specifically designed for serious investors, the subscription therefore covers fund selection, portfolio reviews, rebalancing, asset allocation, and end-to-end portfolio guidance, all backed by institutional-grade research.
Since its launch, PowerUp Elite has onboarded more than 25,000 paid members, thereby emerging as one of India’s fastest-growing subscription-led mutual fund advisory products.
Looking ahead, the company is preparing to launch PowerUp Infinite, a fully managed investment advisory solution. In this context, the offering will deliver dedicated one-on-one advisory, comprehensive goal planning, and personalised investment strategies, all in a transparent and unbiased manner.
Together, PowerUp Elite and PowerUp Infinite will therefore create a comprehensive advisory stack, ranging from app-first personalised guidance to fully managed wealth solutions led by expert advisors.
Over the next three years, PowerUp Money aims to onboard 10 million users, strengthening its role in shaping the future of retail wealth management in India.
Prateek Jindal, Founder & CEO, PowerUp Money, said, “High-quality, unbiased mutual fund advice should not be a privilege. 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 fundraiser 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.”
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.”
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.”
