Wealthtech platform PowerUp Money has raised $7.1 million in seed funding co-led by Accel, Blume Ventures and Kae Capital, with participation from 8i Ventures, DeVC and angel investors.
The new capital will be used to strengthen product development, enhance the investment intelligence engine and scale the advisory offerings.
Launched in April, the company’s flagship offering is the Power Mutual funds that help users manage their mutual fund portfolios. Power Mutual Funds has already tracked over ₹3,000 crore in assets across 25,000+ customers.
“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, 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.”
Exclusive membership
The company also offers an exclusive membership for investors that gives premium research and curated portfolio guidance. They also offer other wealth products such as Power FD which helps users get access to the highest interest rates on their debt investments from RBI-regulated banks and NBFCs and Power Age, a financial planning tool that helps users work towards financial independence.
PowerUp Money plans to onboard 10 million users to their platform in the next three years.
With inputs from businessline intern Nethra Sailesh