Neo Group Raises ₹350 Crore from Peak XV Partners
Wealth and asset management startup Neo Group has raised approximately ₹350 crore (around $36.3 million) in a funding round led by Peak XV Partners. This marks the company's second significant capital raise in under six months.
Neo Group, an Indian wealth and asset management startup, has secured around ₹350 crore (approximately $36.3 million) in a funding round. The investment was led by existing investor Peak XV Partners.
This latest funding follows a ₹550 crore raise in March, which was led by TVS Capital. That earlier round propelled Neo Group into the unicorn club, signifying a valuation of over $1 billion.
Nitin Jain, Chairman and Managing Director, stated that the new capital will be allocated towards talent, technology, and new product development as the company expands its footprint across India. Neo Group offers wealth and asset management services catering to family offices, ultra-high-net-worth individuals (UHNWIs), institutions, and corporates.
The company currently manages approximately ₹1.3 lakh crore in client assets. Neo Group operates within India's growing wealth management sector, competing with established players and capitalizing on the nation's projected economic expansion.