Office Gossip34mo
by TwirlyMochiProduct Owner
CosmicTaco
Neo Raises Rs 400 Crore in Funding Round Led by MUFG and Euclidean Capital
- Wealthtech firm Neo has secured Rs 400 crore in a funding round led by Japan’s MUFG Bank and New York-based Euclidean Capital LLC.
- The funds will be used to expand Neo's wealth-management division and enhance sponsor support for its asset management business.
- Neo's equity base now stands at Rs 1,000 crore, marking a significant milestone for the company.
- India's wealth management market is projected to grow at a CAGR of 4.56% during 2025–2029, driven by new-age startups and rising affluent class.
- Neo, launched in 2021, manages nearly Rs 35,000 crore in wealth management assets and is seeking an NBFC license to offer short-term loans.
Source: Moneycontrol
16mo ago
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