Bengaluru-based fintech startup PowerUp Money has raised $10 million in a funding round led by Flourish Ventures. The capital will help the company expand its AI-driven wealth management tools beyond mutual funds into stocks and ETFs. While the firm currently tracks a large user base, it faces the challenge of converting free users into paying subscribers in a highly competitive Indian wealthtech market.
Bengaluru-based wealthtech startup PowerUp Money has secured $10 million in its latest funding round led by Flourish Ventures. The company, which operates as a SEBI-registered investment advisor, plans to use this capital to accelerate the development of its AI-powered wealth management platform. Existing investors, including Peak XV Partners, Accel, Blume Ventures, and Kae Capital, also participated in this round, reflecting continued institutional interest in the company’s business model.
Founded in 2024 by Prateek Jindal, who is also known for co-founding Uni Cards, PowerUp Money currently focuses on helping users track mutual fund portfolios. With this fresh infusion of capital, the firm intends to expand its service offerings to include direct stock and exchange-traded fund (ETF) investments. The company aims to use artificial intelligence to automate wealth management tasks—such as portfolio rebalancing and risk profiling—that are typically handled by human relationship managers.
Business Model and Market Position
It is important for market observers to note that PowerUp Money is a private company and is not listed on any stock exchange like the NSE or BSE. Therefore, there is no public share price for this firm. The company’s primary goal is to shift its current user base, which stands at approximately 1.5 million users tracking nearly ₹2.5 lakh crore in assets, from being users of free research tools to paying subscribers of its advisory products.
The core of their strategy is to lower the cost of high-quality financial advice by using an "AI coach." This addresses a common bottleneck in the wealth management industry, where human relationship managers are expensive and cannot serve mass-market customers profitably. By automating these services, the startup is trying to create a scalable revenue model that does not depend solely on aggressive marketing spending.
Competition and Execution Risks
While the company’s growth in user numbers is notable, the Indian wealthtech sector is exceptionally crowded. Established players and large brokerage firms already dominate the space, offering free or low-cost investment platforms. For PowerUp Money, the main challenge remains monetization. Converting free users into customers willing to pay for advisory services is difficult, as many investors in India are price-sensitive and accustomed to free tools.
Furthermore, as a SEBI-registered investment advisor, the company operates under strict regulatory guidelines. Expanding into complex asset classes like stocks and ETFs brings higher regulatory requirements and technical execution risks. The firm must ensure its AI algorithms handle risk profiling accurately to avoid compliance issues or poor investment outcomes for clients. Investors and market watchers should track whether the company can successfully scale its product features and maintain its customer base as it transitions toward a model focused on sustainable profitability and paid advisory services.