Neo Group Nets ₹350 Cr From Peak XV Partners To Strengthen Wealthtech Play

Wealth and asset management startup Neo Group has raised about ₹350 Cr ($36.3 Mn) in a funding round led by existing investor Peak XV Partners, marking its second capital raise in less than six months after raising ₹550 Cr from TVS Capital in March.

While Neo did not disclose the valuation at which the latest round was raised, the startup had entered the unicorn club with the TVS Capital-led round.  It said definitive agreements have been signed and the transaction is expected to close shortly..

The latest investment extends Peak XV’s backing of the company. The VCl firm had participated in Neo’s $20 Mn funding round in February 2025, alongside MUFG and other investors. Since then, the startup has raised multiple rounds, including $19 Mn in August 2025, about $25 Mn in November 2025, $53 Mn from TVS Capital.

The fresh capital will be used to invest in talent, technology and new product capabilities as the company expands its presence across India, chairman and managing director Nitin Jain said.

Founded in 2021 by former Bank of America executives Nitin Jain and Kalpesh Shah, Neo offers wealth and asset management services to family offices, ultra high net worth individuals (UHNIs), HNIs, institutions and corporates.

Neo said it currently manages about ₹1.3 Lakh Cr in total client assets, up from nearly ₹1 Lakh Cr reported in March. The startup claims to operate across more than 30 cities with a team of over 850 professionals.

Apart from its wealth management business, Neo has also been expanding its asset management operations. 

Its asset management arm, Neo Asset, announced the first close of a ₹2,000 Cr secondaries private equity fund at ₹750 Cr last year. The fund targets investments in profitable companies across sectors such as BFSI, healthcare, consumer, IT/ITeS, industrials and services, and has already backed companies including Nobel Hygiene, Purplle, Fractal Analytics and IDfy.

Overall, the startup is targeting the growing India’s wealth management sector. According to the UBS Global Wealth Report, India is home to more than 9 Lakh millionaires, a figure expected to nearly double by 2030, alongside the creation of $2.4 Tn in new financial wealth.

Neo competes with players such as 360 ONE, Avendus Wealth, Waterfield Advisors and ASK Wealth Advisors in the segment.

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