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Uni Cards co-founder Prateek Jindal raises $10 million for his second startup

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Uni Cards co-founder Prateek Jindal raises $10 million for his second startup

Wealthtech startup PowerUp Money has raised $10 million in a funding round led by Flourish Ventures, as it moves from mutual fund advice into full-scale wealth management built around AI.

All of its existing investors took part in the round: Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC.

Founder and CEO Prateek Jindal described it as an extension of the startup's previous raise rather than a large growth round, and said it should give PowerUp around three years of runway as it works towards profitability.

PowerUp Money claims more than 15 lakh customers track mutual fund portfolios worth over Rs 2.5 lakh crore on its platform.

A significant part of the capital will go into building 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 Money has launched Elite Prime on its app. It takes an investor's goals, risk profile and existing portfolio and turns them into asset allocation, SIP and lump-sum investment plans, rebalancing and withdrawal strategies.

The product can also point out gaps in a portfolio and recommend exposure to asset classes such as gold, silver and global investments. An AI wealth coach and an AI personal assistant sit at its core, meant to help investors act on the advice and stay disciplined over time.


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