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consumer-facing wealth and asset management firm Neo has raised INR 221 crore (about USD 25 million) in a follow-on funding round led by Crystal Investment Advisors of the Atha Group. This is the second fundraise for the Mumbai-based company in the past four months.
A regulatory filing sourced from the Registrar of Companies shows that Neo's board approved the allotment of 2,571 equity shares at INR 8,60,410 each to secure the new capital.
Crystal Investment Advisors led the round with INR 193 crore, while Morde Foods Private Limited invested INR 28 crore. The company plans to deploy the funds towards growth-related initiatives and operational requirements.
According to Entrackr's estimates, the latest infusion values Neo at around USD 700 million post-money.
The new capital comes barely three months after Neo raised INR 162 crore (approx. USD 19 million) in a round led by VT Capital, which also saw participation from 17 other investors.
During the USD 19 million round, Neo had clarified to Entrackr that it had raised an additional USD 20 million in February (Q1 CY2025) from MUFG, Peak XV Partners, Euclidean Capital and a large Indian family office. That tranche was closed at a pre-money valuation of INR 5,500 crore (around USD 640 million). The current round has also been completed at the same valuation.
Neo provides advisory and yield-oriented investment products to high-net-worth and ultra-high-net-worth individuals, including family offices. Earlier this year, Neo Assets completed the first close of its second private credit fund at INR 2,000 crore. The SEBI-registered fund offers credit solutions to unlisted companies and acquires secondary positions. In India, Neo competes with players such as 360 One, Wealthpark, Kristal AI and Scripbox.
This article was originally published by the Entrepreneurindia.com. To read the full version, visit here 
