PowerUp Money Raises $10 Mn To Expand Wealth Management Services

Bengaluru-based wealthtech startup PowerUp Money has secured $10 Mn (₹95 Cr) in fresh funding from Flourish Ventures, alongside participation from existing investors Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC. The company aims to leverage the capital to enhance its AI-driven wealth management services, scale its managed advisory business, and create personalized financial planning solutions for Indian investors.

Founder and CEO Prateek Jindal, who co-founded fintech giant Uni Cards, expressed excitement about developing an AI-powered wealth manager that offers personalized financial planning and ongoing portfolio guidance to every Indian at a fraction of traditional costs. PowerUp currently serves over 15 lakh customers, managing mutual fund portfolios valued at more than ₹2.5 lakh crore on its platform, with over 1 lakh paid members subscribing to its mutual fund advisory service, PowerUp Elite.

Recently launched, Elite Prime offers an end-to-end digital wealth advisory experience, including an AI wealth coach and personal assistant, tailored to customers' financial goals, risk profiles, and existing portfolios. The startup is also expanding its managed wealth advisory offering, Infinite, which has accumulated nearly ₹500 Cr in assets under management (AUM) within nine months of its launch, catering to investors seeking more hands-on financial assistance.