PowerUp Money Raises $12 Million in Series A to Expand Access to High-Quality Mutual Fund Advisory Across India
India has witnessed a sharp rise in
mutual fund adoption over the past decade, with nearly 60 million investors now
participating in mutual funds and SIP inflows at an all-time high. However,
access to high-quality, unbiased investment advice has not scaled at the same
pace. Many investors continue to rely on informal advice or short-term
performance indicators, often resulting in suboptimal long-term outcomes.
Founded in 2024 by Prateek Jindal,
PowerUp Money is building a research-led, zero-commission mutual fund advisory
platform 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), the platform ensures that recommendations
remain fully aligned with investors’ long-term wealth creation goals.
The PowerUp Money app enables users to review their mutual fund portfolios free
of cost and assess portfolio health and performance. Within eight months of
launch, the platform has onboarded over 5 lakh users and is currently tracking
more than ₹65,000 crore in assets, indicating strong early user engagement with
the platform.
PowerUp Money’s flagship offering,
PowerUp Elite, delivers personalised mutual fund advisory directly through the
app for an annual fee of ₹999. Designed for serious investors, the subscription
covers fund selection, portfolio reviews, rebalancing, asset allocation, and
end-to-end portfolio guidance backed by institution-grade research. Since
launch, PowerUp Elite has onboarded over 25,000 paid members, emerging as one
of India’s fastest-growing subscription-led mutual fund advisory offerings.
“High-quality, unbiased mutual fund
advice should not be a privilege,” said Prateek Jindal, Founder
& CEO, PowerUp Money. “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 fundraise 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.”
Commenting on the investment, 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.”
Commenting on the company’s progress, 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.”
The company is also preparing to
launch PowerUp Infinite, a fully managed investment advisory product offering
dedicated 1:1 advisory, goal planning, and personalised investment strategies
delivered in a transparent and unbiased manner. Together, PowerUp Elite and
PowerUp Infinite will form a comprehensive advisory stack, spanning app-first
personalised guidance to fully managed wealth solutions led by expert advisors.
With this fundraise, PowerUp Money
plans to further strengthen its research and advisory capabilities, scale
PowerUp Elite, launch PowerUp Infinite, and invest in financial literacy and
investor education initiatives. Over the next three years, the company aims to
onboard 10 million users, deepening its role in shaping the future of retail
wealth management in India.
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