Uni Cards spun off entity PowerUp raises money from Accel, Blume

11 Jun 2025, 01:49 PM

In February, The Head and Tale reported that PowerUp Money raised $4.75 million to build a next-generation wealth management platform.

Team Head&Tale

Wealthtech startup PowerUp money has raised $7.1 million from Accel, Blume Ventures and Kae Capital as part of its seed funding round. 

8iVentures, DeVC and angel investors also participated in the funding round. 

The company will use the funds to expand its research team, build new advisory products and boost its customer acquisition plans.

In February, The Head and Tale exclusively reported that PowerUp Money is spinning off from Uni Cards to operate as an independent company. And, as part of this transition, the company raised $4.75 million from new and existing investors to build a next-generation wealth management platform.

Uni Cards continues to remain a shareholder in PowerUp.

PowerUp was originally incubated within Uni Cards, and over time, "it became clear that the opportunity in wealth management required a dedicated, independent approach," a person aware of the matter, who didn't wish to be quoted, had then said.

"The transition, which will be completed over the next two months, is happening with the support of Uni Cards, its board, and its investors, including Lightspeed, Accel, General Catalyst, Eight Roads, and Elevation Capital," the person had added.

This spin-off will allow PowerUp to focus entirely on wealth management, while Uni Cards continues to focus in the lending space.

PowerUp Money is founded by Prateek Jindal, who also co-founded Uni, along with Nitin Gupta.