PowerUp Money Raises $7.1M Seed to Expand Wealth Advisory in India

PowerUp Money, a Bengaluru- and Mumbai-based wealthtech startup founded by Prateek Jindal, has raised $7.1 million in a seed funding round led by Accel, Blume Ventures, and Kae Capital, with participation from 8i Ventures, DeVC, and angel investors. The startup, spun off from Uni Cards, aims to revolutionize investment advisory in India by offering goal-based investing, portfolio tracking, and financial planning tools through its flagship app, Power Mutual Funds, which already manages around $350 million in assets across 25,000 users. PowerUp Money seeks to address the challenge many Indian investors face by providing accessible, data-driven, and easy-to-understand mutual fund advisory services, including free portfolio monitoring and automated nudges to prevent portfolios from being neglected or mismanaged. The company plans to use the new capital to enhance its AI-driven investment intelligence engine, expand advisory services, develop new products like Power Age (a financial independence planning tool), and grow its user base toward a target of 10 million customers over three years. Additionally, PowerUp Money offers a premium subscription, PowerUp Elite, for an annual fee, delivering institutional-grade research and tailored portfolio advice traditionally reserved for high-net-worth investors. Industry experts see PowerUp as a key player in India's emerging wealthtech sector, helping democratize financial advisory for the country's expanding digital-savvy investor population.