PowerUp Cash, a mutual fund advisory wealthtech platform, has raised $12 million (about Rs 107.4 crore) in a Sequence A funding spherical led by Peak XV, with participation from present buyers Accel, Blume Ventures and Kae Capital.

The spherical additionally noticed continued backing from 8i Ventures and DevC, and comes simply six months after the startup raised $7.1 million in seed funding.

Based in 2024 by Prateek Jindal, the Bengaluru-based startup is constructing a research-led, zero-commission mutual fund advisory platform centered on offering unbiased funding recommendation at considerably decrease prices than conventional fashions.

PowerUp Cash operates as a SEBI-registered Registered Funding Advisor (RIA), a construction it says ensures advisory suggestions stay aligned with long-term investor outcomes reasonably than product commissions.

The startup wil use the raised capital to strengthen its analysis and advisory capabilities, scale its flagship subscription product PowerUp Elite, launch a brand new totally managed providing referred to as PowerUp Infinite, and develop initiatives centered on monetary literacy and investor schooling.

PowerUp Cash’s app permits customers to evaluation their mutual fund portfolios without charge, together with assessments of portfolio well being and efficiency. Its paid product, PowerUp Elite, provides personalised mutual fund advisory by means of the app for an annual price of Rs 999. The service consists of fund choice, portfolio opinions, rebalancing, asset allocation and end-to-end portfolio steering backed by institution-grade analysis.

The startup can also be getting ready to launch PowerUp Infinite, positioned as a completely managed funding advisory product with devoted one-on-one advisory, purpose planning and personalised funding methods delivered on a clear and unbiased foundation. Collectively, PowerUp Elite and PowerUp Infinite are anticipated to kind a full advisory stack, starting from app-first steering to advisor-led managed wealth options.

Inside eight months of launch, PowerUp Cash claims to have onboarded over 5 lakh customers and is at present monitoring greater than Rs 65,000 crore in belongings on its platform. Its paid providing, PowerUp Elite, has crossed 25,000 subscribers, in accordance with the corporate.

“This fundraise allows us to strengthen our advisory and analysis capabilities, scale PowerUp Elite, and launch PowerUp Infinite, as we work in the direction of constructing India’s most trusted, zero-commission mutual fund advisory platform and assist tens of millions of buyers make investments with readability and confidence,” founder and chief government Prateek Jindal stated. Over the following three years, the corporate goals to onboard 10 million customers because it appears to deepen its presence in India’s retail wealth administration market.