PowerUp Money raises $10 million for AI wealth management expansion

Bengaluru-based wealthtech startup PowerUp Money has secured $10 million in a funding round led by Flourish Ventures. The round included participation from existing investors such as Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures, and DeVC.

The company intends to use the capital to transition from a mutual fund advisory service into a full-stack financial planning platform. Key objectives include developing an AI-powered wealth manager to provide personalized financial planning and portfolio guidance, as well as expanding its offerings beyond mutual funds to include stocks, ETFs, portfolio management services (PMS), and alternative investment funds (AIFs).

Founder and CEO Prateek Jindal stated that the investment will support the scaling of their managed advisory business and the creation of digital tools like Elite Prime, which features an AI wealth coach. The startup currently reports over 1.5 million customers tracking mutual fund portfolios valued at more than ₹2.5 lakh crore.