Wealthtech startup PowerUp Money has raised $10 million in a funding round led by Flourish Ventures, as it moves from mutual fund advice into full-scale wealth management built around AI.
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All of its existing investors took part in the round: Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC.
The round reportedly values PowerUp Money at about $73 million.
Founder and CEO Prateek Jindal described it as an extension of the startup’s previous raise rather than a large growth round, and said it should give PowerUp around three years of runway as it works towards profitability.
PowerUp Money claims more than 15 lakh customers track mutual fund portfolios worth over Rs 2.5 lakh crore on its platform.
Building AI-powered wealth manager
A significant part of the capital will go into building what the startup calls an AI-powered wealth manager.
“We started by making high-quality investment advice accessible to every Indian. Today, AI makes it possible to deliver a much more comprehensive, wealth-manager-like experience digitally and at a fraction of traditional costs. A significant portion of this investment will go towards building an AI-powered wealth manager that brings personalised financial planning and ongoing portfolio guidance to every Indian,” Jindal said.
Alongside the funding, PowerUp Money has launched Elite Prime on its app. It takes an investor’s goals, risk profile and existing portfolio and turns them into asset allocation, SIP and lump-sum investment plans, rebalancing and withdrawal strategies.
The product can also point out gaps in a portfolio and recommend exposure to asset classes such as gold, silver and global investments. An AI wealth coach and an AI personal assistant sit at its core, meant to help investors act on the advice and stay disciplined over time.
The startup also plans to go beyond mutual funds into stocks, ETFs, portfolio management services (PMS) and alternative investment funds (AIFs), according to reports.
Three products, three levels of support
PowerUp Money now runs three tiers. Elite, its mutual fund advisory subscription, has grown to more than 1 lakh paid members since its 2025 launch, which the startup claims makes it one of the largest fee-based advisory platforms in the country.
Infinite is its managed wealth offering for investors who want hands-on help, covering financial planning, portfolio construction, multi-asset allocation, goal-based strategies, ongoing portfolio management and a dedicated adviser. It has reached almost Rs 500 crore in assets under management within about nine months of launch, even though it is open only to a limited set of customers.
Scaling Infinite is one of the main uses for the new money.
“Infinite helps customers navigate their entire wealth journey, from financial planning and portfolio construction to ongoing management. Scaling Infinite and making it accessible to all investors is a key priority for us over the next 1 year,” Jindal said.
“Different investors need different levels of support. Elite helps investors make better investment decisions, while investors with larger and more complex portfolios may increasingly look for deeper, hands-on support through Infinite,” he added.
How fast it has grown
PowerUp Money’s flagship mutual fund product went live in April 2025. When it announced a $7.1 million seed round in June 2025, co-led by Accel, Blume Ventures and Kae Capital, it had a little over 25,000 customers and about Rs 3,000 crore in assets on the platform.
By December 2025, when it raised a $12 million Series A round led by Peak XV, it had onboarded more than 5 lakh users tracking Rs 65,000 crore in assets. Elite then had more than 25,000 paid members at an annual fee of Rs 999.
That means its user base has roughly tripled and paid Elite members have roughly quadrupled in the roughly 11 months since the Series A, while tracked assets have grown nearly fourfold.
With the new round, PowerUp Money has raised about $29 million across three rounds in about 17 months.
Jindal was also the co-founder of credit card fintech Uni Cards. The startup has said it aims to reach 10 million users.
“India has significantly democratised investing. Mutual fund AUM has grown nearly six-fold in a decade, from around Rs 15 lakh crore to Rs 82 lakh crore, compounding at approximately 18% annually. The next chapter is helping millions of investors manage that wealth as their financial lives grow more complex,” said Ravi Kaushik, Executive Director and Head of Asia at Flourish Ventures.
He added that PowerUp is “well positioned to address this need by combining trusted, regulated investment advisory with technology to deliver increasingly comprehensive wealth management capabilities.”
