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Peak XV backs Indian wealthtech firm PowerUp Money in $12m round
PowerUp Money, a Bengaluru-based wealthtech startup, has raised US$12 million in a funding round led by Peak XV Partners, with participation from Accel, Blume Ventures, and Kae Capital.
Peak XV contributed US$7 million, while the remaining US$5 million came from existing investors.
Founded in 2024 by Prateek Jindal, PowerUp Money offers mutual fund advisory services to retail investors in India.
PowerUp Money holds a Registered Investment Advisor licence and targets users with investable wealth between 20 lakh rupee (US$22,324) and 2 crore rupee (US$223 million).
The firm plans to use the new capital to strengthen its research and advisory teams, accelerate user acquisition, and launch new product lines for different customer segments.
🔗 Source: PowerUp Money
🧠 Food for thought
Implications, context, and why it matters.
PowerUp pricing relies on retention
- PowerUp Elite, the paid tier, costs ₹999 per year 1. Subscribers total 25,000 2. The system tracks over ₹65,000 crore across 500,000 linked portfolios 2.
- Pricing changed twice since launch 1. It moved from ₹1,499 to ₹999 with refunds after user feedback to test price sensitivity and conversion across 500,000 users 12.
- The model turns free portfolio reviews into annual plans, then aims to keep members past year one. Traditional firms bill on AUM, so PowerUp must make flat subscriptions work at scale when the price moves to ₹1,999 1.
Registered Investment Advisor (RIA) platforms can tap India’s advisory market with infrastructure
- PowerUp tracks ₹65,000 crore across 500,000 users 2. That hints at demand for digital advisory infrastructure. Vendors serving about 1,000 Securities and Exchange Board of India (SEBI) registered investment advisers can offer Know Your Customer (KYC) aggregation and account aggregator integration (user-consented financial data sharing) 3. Add Consolidated Account Statement (CAS) parsing and mutual fund research APIs.
- PowerUp’s fast scale tells fintech vendors that RIAs invest to compete with commission distributors. The SEBI Investment Adviser (IA) registry offers a list for B2B outreach 3. Pitch portfolio systems, billing platforms, or compliance tools.
- PowerUp raised $19.2 million across two rounds in six months 2. Investor appetite for zero commission advice looks strong. Pursue goal based planning software, tax optimization tools, or institutional grade research for mid market RIAs.
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