Wealth and asset management startup Neo Group has secured ₹350 crore ($36.3 million) in a funding round led by existing investor Peak XV Partners, the company announced this week. This marks Neo Group’s second capital raise in under six months, following a ₹550 crore round from TVS Capital in March. Definitive agreements have been signed, and the transaction is expected to close shortly, according to inc42.com.
The latest funding extends Peak XV Partners’ ongoing support for Neo Group, which had previously invested in a $20 million round in February 2025 alongside MUFG and others. Since then, Neo has raised multiple rounds, including $19 million in August 2025, about $25 million in November 2025, and $53 million from TVS Capital. Founded in 2021 by former Bank of America executives Nitin Jain and Kalpesh Shah, the startup offers wealth and asset management services to family offices, ultra-high-net-worth individuals, and institutions.
Neo Group currently manages approximately ₹1.3 lakh crore in total client assets, up from nearly ₹1 lakh crore reported in March, and operates across more than 30 cities with a team exceeding 850 professionals. The fresh capital will be used to invest in talent, technology, and new product capabilities as the company expands its presence across India. The startup’s rapid fundraising and asset growth highlight the increasing investor interest in wealthtech solutions targeting high-net-worth clients.
Chairman and managing director Nitin Jain stated that the new funds will support Neo Group’s expansion plans and technology development. The company’s previous rounds and current asset management scale position it as a significant player in India’s wealth management sector, with the transaction closure anticipated soon, inc42.com reported.