Neo, a wealth and asset management company, has successfully secured Rs 400 crore or $48 million in its Series B funding round.
The cash will be utilized to develop Neo’s wealth management section and improve assistance for its asset management business.
The funding was primarily driven by MUFG Bank and Euclidean Capital LLC, based in New York. Peak XV Partners, an existing investor, also took part in this funding round.
Neo has secured around 1,000 crore ($120 million) in equity funding, which includes a $35 million investment from Peak XV in October of the previous year.
Read also – Infinyte Club Secures $3.6 Mn Funding Round from Elevation Capital
Neo offers specialized financial solutions to wealthy individuals, including indigenous family offices, focussing on providing advice and generating returns. The platform has developed specialized funds that focus on credit and real assets. These funds offer capital solutions to enterprises and aim to produce risk-adjusted returns for investors.
The Neo group asserts that it oversees around Rs 35,000 crore in assets for wealth management and over Rs 6,000 crore for alternative asset management.
About Neo
Founded in 2021 by Nitin Jain, Neo Group is a new-age wealth, asset, and risk management platform that aims to provide clients with unbiased investment solutions in a transparent and cost-efficient manner.
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