Prateek Jindal's PowerUp Money Raises $10 Million at $73 Million Valuation

Wealthtech startup PowerUp Money has raised $10 million in a round led by Flourish Ventures, at a reported valuation of about $73 million. The deal, described by founder and CEO Prateek Jindal as an extension of the previous raise rather than a large growth round, should give the company roughly three years of runway as it works toward profitability.

Every existing investor participated: Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC. That unanimity signals backing — though a valuation reported "about" $73 million remains unofficial, and no revenue or profitability figures were disclosed.

PowerUp Money claims more than 15 lakh (1.5 million) customers track mutual fund portfolios worth over Rs 2.5 lakh crore on its platform. Those are company claims, not audited numbers. Still, the growth trajectory is measurable.

What will the money build?

A significant share of the capital goes into 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 launched Elite Prime in its app. The product takes an investor's goals, risk profile and existing portfolio, then converts them into asset allocation, SIP and lump-sum investment plans, plus rebalancing and withdrawal strategies. It can flag portfolio gaps and recommend exposure to gold, silver and global investments. An AI wealth coach and an AI personal assistant form its core, designed to help investors act on advice and stay disciplined over time. In plain words: the company is betting its next product on automation, not human advisers.

The startup also plans to move beyond mutual funds into stocks, ETFs, portfolio management services (PMS) and alternative investment funds (AIFs), according to reports. Regulated product expansion of that scope typically invites regulatory scrutiny — none is mentioned in the announcement.

How does the three-tier model work?

PowerUp Money now operates three tiers:

• Elite: a mutual fund advisory subscription with more than 1 lakh (100,000) paid members since its 2025 launch, at an annual fee of Rs 999. The startup claims this makes it one of the largest fee-based advisory platforms in the country.
• Infinite: a managed wealth offering covering financial planning, portfolio construction, multi-asset allocation, goal-based strategies, ongoing management and a dedicated adviser. It has reached almost Rs 500 crore in assets under management within about nine months of launch — despite being open only to a limited set of customers. Scaling Infinite is one of the main uses for the new money.
• Elite Prime: the new AI-driven planning product.

"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 has it grown?

The flagship mutual fund product went live in April 2025. At its $7.1 million seed round in June 2025 — co-led by Accel, Blume Ventures and Kae Capital — the startup had a little over 25,000 customers and about Rs 3,000 crore in assets.

By December 2025, when it raised a $12 million Series A led by Peak XV, it had onboarded more than 5 lakh users tracking Rs 65,000 crore in assets. Elite then counted more than 25,000 paid members.

Since the Series A, roughly 11 months ago, the user base has roughly tripled, paid Elite members have roughly quadrupled, and tracked assets have grown nearly fourfold. Total funding now stands at about $29 million across three rounds in roughly 17 months.

Jindal previously co-founded credit card fintech Uni Cards. The startup says it aims to reach 10 million users — a nearly sevenfold jump from today's base, with no timeline attached.

Ravi Kaushik, Executive Director and Head of Asia at Flourish Ventures, framed the macro case: "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." 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."

The bet now rests on execution: converting fast user growth into profitable, AI-driven wealth management — before competitors with the same thesis catch up.