Bengaluru based PowerUp Money has raised twelve million dollars in a Series A funding round led by Peak XV, signalling strong investor confidence in subscription led wealth advisory models. Existing backers Accel, Blume Ventures, and Kae Capital also participated, along with 8i Ventures and DevC. The round comes just six months after the company raised seven point two million dollars in seed funding.
Founded in two thousand twenty four by Prateek Jindal, PowerUp Money operates as a subscription based mutual fund advisory platform registered with Securities and Exchange Board of India as a Registered Investment Advisor. The company differentiates itself by offering research driven and unbiased advice while charging users directly, rather than earning commissions from fund manufacturers. This model aims to address long standing conflicts of interest in retail wealth advice.
India’s mutual fund industry has grown rapidly over the past decade, but access to quality advisory has not expanded at the same pace. Many retail investors continue to rely on informal guidance or recent performance trends, often leading to sub optimal outcomes. PowerUp Money is positioning itself as a solution to this gap by focusing on disciplined, long term investment decision making backed by structured research.
Within eight months of launch, the PowerUp Money app has onboarded more than five hundred thousand users and is tracking assets worth over sixty five thousand crore rupees. Its flagship paid offering, PowerUp Elite, charges an annual subscription of nine hundred ninety nine rupees and provides personalised portfolio reviews, rebalancing, and asset allocation. The company says the product already has more than twenty five thousand paying members.
Also Read: Jio Financial Services Names Venkata Narasimham Peri as Group COO to Drive Scale and AI Led Strategy
The fresh capital will be used to expand research capabilities, scale paid products, and invest in financial literacy initiatives. With plans to launch a fully managed advisory service and a target of ten million users over the next three years, the funding underscores a broader shift toward technology enabled, transparent wealth advisory in India.
