The wealthtech platform PowerUp Money, which provides mutual fund consultations and digital wealth management services, has successfully raised $10 million in a funding round. The early-stage investment firm Flourish Ventures led this round.
Existing investors, including Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures, and DeVC, also participated in the round. The Bengaluru-based company plans to use a significant portion of the capital raised to develop its artificial intelligence-based wealth management platform and expand its managed advisory business.
PowerUp claims that over 1.5 million users utilize its platform to track mutual fund portfolios worth over 2.5 lakh rupees. Its paid Elite subscription, which offers research-based mutual fund advice, reached 100,000 paying subscribers in less than a year.
The company recently introduced Elite Prime—an AI-powered digital wealth management advisory service designed to provide a more comprehensive financial planning experience. The service analyzes an investor's financial goals, risk appetite, and current assets to suggest asset allocation, Systematic Investment Plan (SIP) plans, lump-sum investments, portfolio rebalancing, and withdrawal strategies. Furthermore, it can identify portfolio gaps and recommend diversification into assets such as gold, silver, and international investments.
Company employees plan to implement an AI coach and personal assistant to help users understand recommendations and make informed decisions. Founder and CEO Pratik Jindal noted that 'AI allows for a much more comprehensive experience, similar to a wealth manager's experience, in a digital format,' making personalized guidance accessible to investors who cannot afford traditional wealth management services.
PowerUp is also aiming to scale Infinite, its managed advisory offering. This service combines financial planning, portfolio construction, multi-asset allocation, and continuous portfolio management with dedicated human advisors. According to the company, Infinite accumulated nearly 500 crore rupees in Assets Under Management (AUM) in approximately nine months after launch, despite a limited client base. Expanding access to this service for a larger number of investors is another priority thanks to the new funding.
This growth occurs against the backdrop of a steady increase in the Indian mutual fund market. According to the Association of Mutual Funds in India (AMFI), the industry's total assets reached 82.64 lakh rupees by the end of September 2026, significantly higher than the 15.8 lakh rupees recorded a decade ago. Monthly SIP contributions also reached 32,490 crore rupees in September, reflecting the growing adoption of regular long-term investing.
Investor interest has spurred further funding in the wealthtech sector. The debt investment platform Wint Wealth raised 250 crore rupees in a Series B round in January, and the wealth management firm Centricity secured 280 crore rupees in August. The AI-focused startup Novelty Wealth also announced a seed round of $1.4 million in March.
However, growth is accompanied by challenges. Digital advisory services must remain appropriate, transparent, and compliant with regulations as the platforms' client base expands. SEBI issued an updated Master Circular for investment advisors in February, strengthening the regulatory framework governing investment advice. Ravi Kaushik, Head of Asia at Flourish Ventures, noted that the opportunity lies in helping investors manage increasingly complex financial lives.
