PowerUp Money to spin off from Uni Cards, raises $4.75 million
18 Feb 2025, 05:27 PM
This spin-off will allow PowerUp to focus entirely on wealth management, while Uni Cards continues to focus in the lending space.
Arti Singh
Share the story on
PowerUp Money is spinning off from Uni Cards to operate as an independent company. However, Uni Cards will continue 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, 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 added.
As part of this transition, the company has raised $4.75 million from new and existing investors to build a next-generation wealth management platform.
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.
The author is Founder and Editor of The Head and Tale. She can be reached at
[email protected]
Tweets @artijourno
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
Rahul ChariCo-Founder And CTO, PhonePe
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
Rishi GuptaMD & CEO, Fino Payments Bank
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
Lizzie ChapmanCo-founder, ZestMoney
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
Mohit BediCo-founder, Kiwi
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
Cofounder of IPO-bound leading fintech lending company