Neo, an India-based wealth and asset management fintech, has finalized a $19 million (₹162 crore) equity funding round led by VT Capital, with participation from 17 additional investors. The new funds have driven a 2.7-fold increase in valuation, pushing the company’s estimated worth to approximately $686 million.
Funding Details & Investors
- Investment Amount: ₹162 crore (~$19 million), allocated via issuance of 1,887 equity shares at ₹8,60,410 each.
- Lead Investor: VT Capital, contributing ₹50 crore.
- Other Investors: Ramesh Kunhikannan (₹20 crore), Sattva Family Office, Biological E Ltd, Usha Reddy Chigarapalli, and Akshat Greentech Pvt Ltd (₹10 crore each).
Valuation Jump: 2.7X Surge
- The new funding round bumps Neo’s valuation to ~$686 million post-money, up from its previous $250 million valuation—a significant 2.7-fold increase.
Company Snapshot & Growth Trajectory
- Assets Managed: Neo manages nearly ₹35,000 crore in wealth management and ₹6,000 crore in alternative asset management.
- Previous Fundraise: Neo had previously raised $120 million, including a $48 million round in August 2024 and a $35 million Series A in October 2023.
- Financial Performance: In FY24, Neo’s revenue doubled 2.4X year-on-year to ₹149 crore, though its loss also increased to ₹13.7 crore.Entrackr
Summary Table
| Aspect | Details |
|---|---|
| Funding Amount | $19 million (₹162 crore) |
| Lead Investor | VT Capital |
| Valuation | ~$686 million post-money |
| Previous Round | $120 million total prior raises |
| AUM & AUA | ₹35,000 crore & ₹6,000 crore |
| FY24 Revenue | ₹149 crore (2.4X YoY growth) |
| FY24 Loss | ₹13.7 crore |
Final Thoughts
With this fresh $19 million round, Neo has made a bold leap forward—both in capital and valuation—reflecting strong investor confidence in its experienced leadership and growth strategy. The new funding positions Neo to further scale its services in India’s fast-evolving wealthtech sector.
