PowerUp Money Raises $12 Million In Funding From Peak XV, Others

PowerUp Money, a mutual fund advisory wealthtech platform, on Monday said it has raised $12 million (about Rs 107.4 crore) in a Series A funding round led by Peak XV, with participation from existing investors Accel, Blume Ventures, and Kae Capital.

The funding comes just six months after the company raised $7.2 million in seed funding.

With the latest funding, PowerUp Money intends to enhance its research and advisory offerings, expand its flagship offering PowerUp Elite, introduce PowerUp Infinite (a fully managed investment advisory product offering), and allocate resources toward financial literacy and investor education, according to a company statement.

Over the next three years, the company targets onboarding 10 million users to further cement its position in shaping the future of retail wealth management in India.

"This fundraise enables us to strengthen our advisory and research capabilities, scale PowerUp Elite, and launch PowerUp Infinite, as we work towards building India’s most trusted, zero-commission mutual fund advisory platform and help millions of investors invest with clarity and confidence," PowerUp Money Founder and CEO Prateek Jindal said.