Bengaluru-based wealthtech startup PowerUp Money has raised $10 million (about ₹95 crore) in a round led by Flourish Ventures, and will use most of the money to build an AI-powered wealth manager for Indian retail investors, founder and CEO Prateek Jindal said on 3 November 2026.
Existing investors Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC also took part. Jindal described the round as an extension of the company’s previous raise rather than a large growth round, and said it should give PowerUp around three years of runway as it works towards profitability.
What PowerUp Money Will Do With the $10 Million
PowerUp started in January 2025 as a mutual fund advisory platform. It now wants to become a full-stack financial planning business that combines investment advice, managed wealth and AI-led digital advisory, and to move beyond mutual funds into stocks, ETFs, portfolio management services (PMS) and alternative investment funds (AIFs).
- Elite Prime: a new end-to-end digital wealth advisory service with an AI wealth coach and personal assistant that weighs a user’s goals, risk profile and existing portfolio.
- Infinite: a managed wealth advisory service with personalised planning, multi-asset allocation, goal-based strategies and a dedicated adviser, which the company says reached nearly ₹500 crore in assets under management within about nine months of launch.
- PowerUp Elite: the existing mutual fund advisory subscription, which has more than 1 lakh paid members.
“Today, AI makes it possible to deliver a much more comprehensive, wealth-manager-like experience digitally and at a fraction of traditional costs,” Jindal said, adding that a significant portion of the investment will go towards an AI-powered wealth manager offering personalised planning and ongoing portfolio guidance.
PowerUp’s Scale So Far
PowerUp says more than 15 lakh customers track mutual fund portfolios worth around ₹2.5 lakh crore on its platform, which Jindal put at nearly 5 per cent of India’s retail mutual fund industry. Jindal earlier co-founded the credit card fintech Uni Cards. Elets Banking and Finance had covered the company’s earlier $12 million raise for its mutual fund advisory platform in December 2025.
Why It Matters for India’s Wealthtech Market
Personalised financial advice in India has largely been limited to wealthy clients because human advisers are expensive. PowerUp is betting that AI can bring that service to mass-affluent investors at subscription prices. It joins a busy field: Y Combinator-backed Vouch is also building an AI wealth manager for Indian families, while larger platforms keep adding investors, with PhonePe Invest reporting a 50 per cent jump in new customers and smallcase raising a $50 million Series D to scale its platform.
Key Takeaways
- PowerUp Money raised $10 million led by Flourish Ventures, with Peak XV, Accel and Blume among existing backers joining.
- The funds will build an AI-powered wealth manager and expand into stocks, ETFs, PMS and AIFs.
- The platform tracks about ₹2.5 lakh crore of mutual fund portfolios for more than 15 lakh users.
Sources: Inc42 and Moneycontrol, 3 November 2026.
