Uni Cards spin-off wealthtech platform PowerUp Money raises $7.1 million from Accel, Blume, others

Prateek Jindal, founder & CEO, PowerUp Money

Bengaluru-based wealthtech platform PowerUp Money, led by Uni Cards co-founder Prateek Jindal, has raised $7.1 million in seed funding, marking its formal spin-off from credit card fintech.

The round was co-led by investors Accel, Blume Ventures, and Kae Capital, with participation from 8i Ventures, DeVC, and several angel investors.

Originally incubated within Uni Cards as a separate platform, PowerUp has now been carved out as an independent entity following the fundraise. While Uni Cards continues to retain a shareholding, the team and operations have been fully hived off, enabling each company to focus on its core segment — lending for Uni, and digital wealth management for PowerUp.

The investor base remains largely the same across both entities.

Launched in April, the DIY app offers direct mutual fund investments to retail investors, added with access to portfolio management tools and guidance. It also offers advisory services to the clients.

“Most Indian investors start with SIPs or one-time investments, but don’t know what to do next. Portfolios are left unattended for years — we want to fix this,” said founder and CEO Prateek Jindal.  “We want to empower every investor with the right research and tools, in a way that's simple and effortless. Getting the right advice at the right time compounds not just your money, but also your confidence as an investor.”

Since its launch in April, Power Mutual Funds, its flagship product, claims to be tracking over Rs 3,000 crore (~$350 million) in assets across more than 25,000 customers.

The company also offers a premium subscription, PowerUp Elite, priced at Rs 999 per year, which provides curated research and portfolio insights. “PowerUp Elite puts institutional-grade insights with actionables within everyone’s reach — not just those who can afford a wealth manager,” Jindal said. “It’s for those who work hard to earn their money and want to grow it wisely without having the time to manage it actively.”

The fresh capital will be used to enhance product development, improve the platform’s investment intelligence engine, and expand advisory offerings.

Backing the thesis, Ashish Fafadia, Partner at Blume Ventures, said: “India’s wealth-tech story is just getting started — and now wealth advisory’s time has come, especially as investable surplus grows and investor participation broadens. PowerUp has the right ingredients: a strong product, a deep understanding of user behavior, and the ability to scale. We’re excited to support Prateek and the team as they build what could become the defining wealth platform for India’s next generation of investors.”

Apart from mutual funds, PowerUp’s product suite includes Power FD — a tool to access high-interest fixed deposits from RBI-regulated banks and NBFCs — and Power Age, a financial planning tool for long-term goal tracking. The company aims to onboard 10 million users in the next three years.

Sunitha Viswanathan, Partner at Kae Capital, added, “Most mutual fund investors don’t lack intent — they lack time and guidance. PowerUp understands this deeply. It doesn’t expect users to become finance experts; it meets them where they are — with simple, timely advice that helps them move forward.”

Prayank Swaroop, Partner at Accel, said, “The next wave in Indian wealthtech isn’t just about access to investment products — it’s about delivering high-quality advisory at scale. PowerUp is taking a unique approach, backed by deep user understanding and reimagining what investment advisory should look like for the digital investor.”