Mumbai: Wealth and asset management startup Neo Group has raised approximately ₹350 crore (around $36.3 million) in a funding round led by existing investor Peak XV Partners, further strengthening its capital base as it expands its wealth and asset management business across India.
The latest investment comes less than six months after the company secured ₹550 crore in funding from TVS Capital in March, a round that propelled Neo into the unicorn club. While the company has not disclosed its valuation for the latest round, it confirmed that definitive agreements have been signed and the transaction is expected to close shortly.
Peak XV Partners has been a long-term backer of Neo, having first invested in the company’s $20 million funding round in February 2025 alongside MUFG and other investors. Since then, Neo has raised multiple rounds, including $19 million in August 2025, around $25 million in November 2025, and $53 million from TVS Capital, reflecting strong investor confidence in its growth strategy.
According to Nitin Jain, Chairman and Managing Director of Neo Group, the fresh capital will be deployed to strengthen talent acquisition, enhance technology infrastructure, and develop new investment products as the company scales its operations nationwide.
Founded in 2021 by former Edelweiss Financial Services CEO Nitin Jain and Hemant Daga, Neo provides wealth and asset management solutions for family offices, ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), institutions, and corporate clients.
The company currently manages approximately ₹1.3 lakh crore in client assets, up from nearly ₹1 lakh crore reported in March, and has expanded its presence to more than 30 cities with a workforce of over 850 professionals.
Neo has also been growing its asset management business. Its investment arm, Neo Asset, achieved the first close of its ₹2,000 crore secondaries private equity fund at ₹750 crore last year. The fund focuses on profitable businesses across sectors including BFSI, healthcare, consumer, IT & ITeS, industrials and services, with investments in companies such as Nobel Hygiene, Purplle, Fractal Analytics, and IDfy.
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The funding comes at a time when India’s wealth management industry is witnessing rapid growth. According to the UBS Global Wealth Report, the country is home to over 9 lakh millionaires, with that number expected to nearly double by 2030, alongside the creation of $2.4 trillion in new financial wealth.
Neo Group competes with leading wealth management firms including 360 ONE, Avendus Wealth, Waterfield Advisors, and ASK Wealth Advisors, as it continues to strengthen its position in India’s fast-growing private wealth management market.
