PowerUp Money, a Bengaluru-based mutual fund advisory wealthtech startup, has raised $12 million (around Rs 107.4 crore) in a Series A funding round. The round was led by Peak XV and included participation from existing investors such as Accel, Blume Ventures, and Kae Capital. Other supporters like 8i Ventures and DevC also contributed to the round. This funding comes just six months after the startup secured $7.1 million in seed funding.
A New Approach to Mutual Fund Advisory
Founded in 2024 by Prateek Jindal, PowerUp Money aims to disrupt the traditional mutual fund advisory space by offering a research-led, zero-commission platform. Unlike conventional advisory services that often earn from product commissions, PowerUp Money focuses on providing unbiased advice at lower costs, prioritizing long-term investor outcomes.
SEBI-Registered Structure Ensures Trust
PowerUp Money operates as a SEBI-registered Registered Investment Advisor (RIA). This structure helps ensure that the platform’s recommendations are aligned with clients’ financial goals rather than generating commissions for advisors. By keeping investor interests at the center, the startup aims to build trust and transparency in mutual fund advisory services.
Scaling Up With Fresh Funding
The $12 million Series A will be used to expand technology, enhance research capabilities, and scale operations across India. The startup plans to reach more retail investors and strengthen its platform to offer tailored investment solutions.
Investor Confidence Signals Market Potential
The continued backing from established investors like Accel and Blume Ventures reflects strong confidence in PowerUp Money’s business model. Investors are betting on the shift toward transparent, commission-free advisory platforms as more Indian investors seek guidance for wealth creation in mutual funds.
The Road Ahead
PowerUp Money’s growth comes at a time when fintech and wealthtech platforms are rapidly evolving in India. With its zero-commission model, SEBI-compliant advisory framework, and fresh capital, the startup is well-positioned to become a trusted platform for retail investors seeking cost-effective and research-backed mutual fund guidance.
