PowerUp Money, a mutual fund advisory wealthtech platform, has raised $12 million in Series A funding to expand access to research-led investment guidance across India. The round was led by Peak XV, with participation from existing investors Accel, Blume Ventures and Kae Capital, who doubled down on their commitments. Continued backing also came from 8i Ventures and DevC. The fresh capital comes six months after the company raised $7.2 million in seed funding.
India’s mutual fund adoption has surged, with nearly 60 million investors and record SIP inflows. Yet, access to unbiased investment advice remains limited, leaving many dependent on informal tips and short-term trends. Founded in 2024 by Prateek Jindal, PowerUp Money aims to democratise high-quality advisory through a SEBI-registered, zero-commission platform.
In the eastern financial hub, Kolkata is witnessing a rising appetite for disciplined Mutual Fund investing, especially among young earners. Industry participants say affordable advisory platforms could accelerate first-time investor participation in the city’s expanding salaried middle-class demographics. The PowerUp Money app enables free portfolio reviews and currently tracks over ₹65,000 crore in assets for 5 lakh users. PowerUp Elite, priced at ₹999 annually, has onboarded 25,000 subscribers. The firm plans to launch PowerUp Infinite for dedicated 1:1 advisory and goal planning and aims to reach 10 million users in three years while investing in research, advisory strength and investor education initiatives.
