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PowerUp Money raises $10M to expand AI-led wealth management

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PowerUp Money raises $10M to expand AI-led wealth management

PowerUp Money, a wealthtech platform offering mutual fund advice and digital wealth management services, has raised $10 million in a funding round led by Flourish Ventures, an early-stage investment firm.

Existing investors Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC also participated. 

The Bengaluru-based company plans to use a significant portion of the capital to develop its AI-powered wealth management platform and expand its managed advisory business.

PowerUp claims more than 1.5 million users track mutual fund portfolios worth over Rs 2.5 lakh crore on its platform. Its paid subscription service, Elite, provides research-backed mutual fund advice and is said to have crossed 1,00,000 paid members in less than a year.

The company has now introduced Elite Prime, an AI-enabled digital wealth advisory service designed to provide a more comprehensive financial planning experience. It assesses investors’ financial goals, risk appetite and existing holdings to suggest asset allocation, systematic investment plans (SIPs), lump-sum investments, portfolio rebalancing and withdrawal strategies. It can also identify gaps in portfolios and suggest diversification into assets such as gold, silver and international investments.

An AI wealth coach and personal assistant are intended to help users understand recommendations and make informed decisions. 

Founder and chief executive officer Prateek Jindal said, “AI makes it possible to deliver a much more comprehensive, wealth-manager-like experience digitally”, bringing personalised guidance within reach of investors who may not be able to afford traditional wealth management services.

PowerUp is also looking to expand Infinite, its managed wealth advisory offering.



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