Team StartupCity

• Neo raises $25 Million in a follow-on round led by Crystal Investment Advisors
• Fresh funding pegs the company’s post-money valuation at around $700 Million
• Capital to support expansion and strengthen operations

Neo, the Mumbai-based consumer-facing wealth and asset management company, has secured $25 million (Rs 221 crore) in a fresh follow-on funding round led by Crystal Investment Advisors of the Atha Group. This marks Neo’s second fundraise in just four months, signaling growing investor confidence in its business model and expansion plans.

Regulatory filings from the Registrar of Companies show that Neo approved the allotment of 2,571 equity shares priced at Rs 8.6 lakh each to raise the new capital. Crystal Investment Advisors led the round with an investment of Rs 193 crore, while Morde Foods added Rs 28 crore. The company plans to channel the funds into growth initiatives and meeting operational needs.

With this round, Neo’s valuation stands at roughly $700 million post-money, as estimated by a report. The latest infusion comes shortly after the startup raised $19 million in August, led by VT Capital and joined by 17 other investors. Earlier this year, Neo also brought in $20 million from MUFG, Peak XV Partners, Euclidean Capital, and a major Indian family office at a pre-money valuation of Rs 5,500 crore ($640 million). The current round has been closed at the same valuation.

Also Read: Zinit Raises $8 Million to Scale Its AI-Led Procurement Platform

Neo specializes in advisory and yield-focused investment products for high-net-worth and ultra-high-net-worth individuals, including family offices. Its private credit arm, Neo Assets, completed the first close of its second fund at Rs 2,000 crore earlier this year, offering credit solutions to unlisted firms and acquiring secondary positions.

For FY24, Neo reported revenue of Rs 177 crore, a 2.7X jump year-over-year, while losses widened to Rs 13.7 crore. Financials for FY25 are yet to be filed.