PowerUp Money raises $10 million to push AI-led wealth advice
Wealthtech PowerUp Money raised $10 million led by Flourish Ventures. It claims 1.5 million users and 1 lakh paid members; what is verified and what is not.
PowerUp Money, a Bengaluru wealthtech start-up founded only last year, has raised $10 million (about Rs 95 crore) in a round led by Flourish Ventures, Entrackr and Inc42 reported on 3 November 2026. Existing backers Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC also took part. The company says the money will build artificial intelligence (AI) tools for wealth management and widen its advice business. Nearly every number about its users and assets is the company's own claim, and the valuation, revenue and losses were not disclosed.
What was announced
According to Entrackr, the $10 million round was led by Flourish Ventures, with the five existing investors named above joining. Inc42 converts the amount to about Rs 95 crore. Entrackr adds that PowerUp raised a $12 million Series A in December 2025 led by Peak XV and others, so the company has now raised about $22 million in under a year, our sum of the two reported rounds.
The company was founded in 2025 by Prateek Jindal, who, according to Inc42, also co-founded the credit-card start-up Uni Cards. Entrackr does not disclose a valuation, revenue, profit or cash burn, and neither does the text of Inc42's article that we could read; Inc42's page was partly behind a paywall, so there may be details we did not see. The funds will go to "AI-led" wealth products, to scaling a managed advisory business, and to personalised financial planning for Indian investors.
What PowerUp does, in plain English
PowerUp began as a tool for people who own mutual funds, which are pooled investments run by professional managers. Inside India, an investor often holds many funds bought through different apps, banks and distributors. A tracker pulls these into one view so that the person can see what they own in total. PowerUp says more than 1.5 million users track mutual fund portfolios worth over Rs 2.5 lakh crore on the platform.
The business is not the tracking itself, which is free to give away, but what it sells on top. The company describes three products. PowerUp Elite is a paid advisory subscription for mutual funds, which it says has passed 1 lakh paid members within a year of launch. Elite Prime is an AI-based digital advisory product that, according to the reports, suggests asset allocation (how to split money among shares, bonds and other holdings), plans for regular investing through systematic investment plans (SIPs) or lump sums, rebalancing, and withdrawal strategies, based on a person's goals and risk profile. It includes an "AI wealth coach". Infinite is a managed wealth service, with a human adviser as well as technology, covering planning, portfolio building and ongoing management. The company claims it reached nearly Rs 500 crore of assets under management (AUM) in about nine months, and that it is open only to a limited set of customers.
Reading the claims carefully
The headline numbers are large, but they measure different things. The Rs 2.5 lakh crore is what users hold and track; it is not money PowerUp manages. The firm's managed money is the Infinite book of nearly Rs 500 crore, which is about 0.2% of the amount tracked, our arithmetic from the two reported figures. That is not a criticism: tracking is the way in, and managed money is where fees are larger. But it means the share of users who pay for advice, and the share who hand over management, are the numbers that show whether the model works.
The 1 lakh paid members is about 6.7% of the 1.5 million users, again our calculation. Entrackr and Inc42 both repeat the company's figures, and neither says they were independently checked. Treat all of them as company-reported.
Where the AI claim fits
Jindal told Inc42, in a statement the outlet reports, that AI makes it possible to offer a wealth-manager-like experience digitally at a much lower cost than traditional services. This is the central bet: that software can do some of what a human planner does, so advice that once needed a large portfolio to be worth a planner's time can reach someone with a small one.
There are real questions here. The reports do not say how the AI coach is built, what data it uses beyond the user's portfolio, or how it is supervised. They do not say which regulatory registration PowerUp operates under to give investment advice; in India, giving paid investment advice generally requires registration with the Securities and Exchange Board of India (SEBI) as an investment adviser. We did not find the company's registration status in the pages we read, and we are not suggesting there is a problem, only noting that it is a question readers can check on SEBI's public register. SEBI has been tightening how advisers handle fees and disclosures, so the rules matter for a firm that sells advice.
Competition is crowded: broker apps, bank wealth desks, other advisory start-ups and fund distributors all chase the same affluent but time-poor investor. The reports we read do not discuss rivals.
What it means for investors, founders and the industry
For people who own mutual funds, a better tracker and low-cost planning tool is useful, but a subscription adds a cost, so it is worth asking what the advice would do for your portfolio that a free comparison would not. Ask how the adviser is paid, whether the platform earns commissions from any fund it suggests, and whether a human reviews the AI's output. These are questions to put to any adviser and are not claims about PowerUp.
For founders, the round shows that existing investors, including Peak XV and Accel, put in more money within a year when a company shows fast early traction, though the traction figures are the company's own. For the industry, the move from tracking to managed money is the path many wealthtech firms try, because fees on managed assets recur year after year.
Use the simulator to see how paid members and managed assets could turn into yearly revenue. The member and AUM defaults are the company's claims; the fee levels are examples chosen by us, since PowerUp's prices were not in the reports.
What to watch next
Watch for audited numbers: PowerUp's first annual filing will show revenue and losses and test the claims on paid members. Also watch whether the managed-assets book grows beyond about Rs 500 crore and opens beyond a limited set of customers, whether the company discloses how its AI coach is supervised, and any SEBI action on advisory and digital advice. A third funding round or a valuation figure would show how investors price the model.
Key takeaways
- PowerUp Money raised $10 million (about Rs 95 crore) in a round led by Flourish Ventures, reported on 3 November 2026, on top of a $12 million Series A in December 2025.
- The company claims 1.5 million users tracking over Rs 2.5 lakh crore of mutual funds, 1 lakh paid Elite members and nearly Rs 500 crore under management; all of these are unverified company figures.
- Managed assets are about 0.2% of the money users track, so paid advice and managed money are the numbers that decide the business.
- Valuation, revenue, profit and regulatory status were not stated in the reports we read.
- The bet is that AI can deliver wealth-manager-style advice at much lower cost; how it is built and supervised was not disclosed.
Sources
- [Entrackr: Wealthtech startup PowerUp Money raises $10 Mn led by Flourish Ventures](https://entrackr.com/news/wealthtech-startup-powerup-money-raises-10-mn-led-by-flourish-ventures-12778285)
- [Inc42: PowerUp Money raises $10 Mn to expand wealth management services](https://inc42.com/buzz/powerup-money-raises-10-mn-to-expand-wealth-management-services/)
Tags: Wealthtech Startup funding Mutual funds AI Fintech