In a noteworthy move that underscores the rising momentum in India’s burgeoning wealthtech ecosystem, PowerUp Money, a Bengaluru-based digital investment advisory platform, has raised USD 7.1 million (~INR 61 crore) in seed funding. The round was co-led by Accel, Blume Ventures and Kae Capital, with additional participation from 8i Ventures, DeVC, and a cohort of strategic angel investors.
PowerUp Money seed funding marks the formal spin-off of the company from Uni Cards, where it was originally incubated as a side platform. The venture is helmed by Prateek Jindal, co-founder of Uni Cards, who has now exited operational roles at Uni to lead PowerUp full-time.
Aiming to Fill the Advisory Gap in Indian Mutual Fund Investing
Launched in April 2025, PowerUp Money has already made impressive early strides. Its flagship product, Power Mutual Funds, has onboarded over 25,000 users and claims to be managing assets worth over INR 3,000 crore (~USD 350 million). The startup leverages a registered investment advisor (RIA) license to offer direct mutual fund investments with in-app research, advisory, and transaction capabilities.
Jindal, a seasoned fintech entrepreneur, believes that India’s mutual fund market—currently at around 55 million retail investors—is poised to nearly double in the next three to four years. However, he argues that while access to investment products has improved, advisory services remain a critical missing layer.
“Most Indian investors start with SIPs or one-time investments, but don’t know what to do next. Portfolios are left unattended for years—we want to fix this,” Jindal said in a statement. “The right advice at the right time compounds not just your money but also your confidence as an investor.”
Democratizing Access to High-Quality Financial Advice
PowerUp’s value proposition rests on making institutional-grade investment research accessible to everyday investors through a digital-first, DIY platform. It targets retail investors with investible surpluses in the range of INR 5 lakh to INR 2 crore, a segment historically underserved by traditional wealth managers.
The company offers both free tools and a premium subscription service branded as PowerUp Elite, which is priced at INR 999 annually. Subscribers receive personalized, curated research and portfolio insights—benefits typically restricted to high-net-worth individuals (HNIs) using traditional private banking services.
Beyond mutual funds, PowerUp has also diversified into other wealth products:
- Power FD: Aggregates high-yield fixed deposits from RBI-regulated banks and NBFCs.
- Power Age: A long-term financial planning tool designed to help users chart their path to financial independence.
Backing from Top-Tier Investors
Backing from major VC firms signals high conviction in PowerUp’s potential to disrupt legacy models in wealth management.
Ashish Fafadia, Partner at Blume Ventures, commented:
“India’s wealthtech story is just getting started—and now wealth advisory time has come, especially as investable surplus grows and investor participation broadens. PowerUp has the right ingredients: a strong product, a deep understanding of user behaviour, and the ability to scale.”
Prayank Swaroop of Accel added:
“The next wave in Indian wealthtech isn’t just about access to investment products—it’s about delivering high-quality advisory at scale. PowerUp is taking a unique approach for the digital investor.”
Sunitha Viswanathan from Kae Capital echoed this sentiment, emphasizing that the majority of Indian investors don’t lack intent, but rather time and actionable guidance—a gap PowerUp is aiming to bridge with its human-plus-AI advisory model.
Use of Proceeds and Future Roadmap
The freshly raised capital will be allocated across three key areas:
- Scaling product development, particularly the proprietary investment intelligence engine.
- Expanding the advisory and research teams to enhance portfolio curation and monitoring capabilities.
- Boosting customer acquisition, with a stated target to onboard 10 million users over the next three years.
The 30–35 member team is also exploring integrations and partnerships to streamline wealth products on a single platform, with a long-term vision of becoming India’s go-to destination for goal-based investing.
WealthTech Heats Up
PowerUp’s entry into the spotlight comes amid a surge in activity in the Indian wealthtech landscape. Competitors like Dezerv, Centricity, and Ionic Wealth are carving out niches, while incumbents like Groww are expanding their footprint through acquisitions (notably, Groww’s recent acquisition of Fisdom). Since PowerUp’s inception in October 2023, the wealthtech segment has attracted USD 250 million (~INR 2,138 crore) across 15 deals.
Final Take
With its fresh capital, early traction, and a tech-first ethos, PowerUp Money is well-positioned to emerge as a formidable player in India’s digital wealth management sector. While execution will determine how well it can differentiate from the growing pack of fintech advisories, the startup’s early indicators—sharp positioning, experienced leadership, and institutional backing—are strong signals in its favor.
As Indian households shift more savings from physical to financial assets, PowerUp’s bet on personalized, affordable, and accessible wealth advisory could prove both timely and transformative.
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