Wealthtech Start-Up PowerUp Bags $7.1 Mn from Accel, Blume Ventures, Other Investors

Bengaluru-based wealthtech start-up PowerUp Money has raised $7.1 million in its first major institutional funding round led by early-stage investors like Accel, Blume Ventures, and Kae Capital. The round also saw participation from 8i Ventures, DeVC, and some angel investors.

The start-up aims to use the fresh capital for strengthening its research team to build more products as per consumer requirements. “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,” said Prateek Jindal, founder and CEO of PowerUp Money.

“We want to empower every investor with the right research and tools, in a way that's simple and effortless. Getting the right advice at the right time compounds not just your money, but also your confidence as an investor,” he added.

Founded by Prateek Jindal who was previously the cofounder of Uni Cards, PowerUp Money offers direct mutual fund investments to retail investors. Its flagship product, Power Mutual Funds, is helping users manage their mutual fund portfolios with the ame discipline and insight that top advisors bring.

Currently, it is tracking over ₹3,000 crore in assets across over 25,000 customers, with strong growth month on month.

Speaking about the investment, Prayank Swaroop, Partner at Accel said, “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, backed by deep user understanding and reimagining what investment advisory should look like for the digital investor”.

“India’s wealth-tech story is just getting started — and now wealth advisory’ time has come, especially as investable surplus grows and investor participation broadens… as they build what could become the defining wealth platform for India’s next generation of investors,” said Ashish Fafadia, Partner, Blume Ventures.

PowerUp Money also plans to onboard 10 million users to their platform in the next three years, strengthening its market presence and shaping the future of retail wealth management in India.