Neo secures $25 million funding led by Crystal Investment Advisors
26 Nov 2025, 12:49 PMThe Mumbai-based company will use the fresh capital for growth initiatives and for operational purposes.
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Consumer-facing wealth and asset management firm Neo has raised Rs 221 crore (about $25 million) in a follow-on round led by Crystal Investment Advisors (Atha Group), the Entrackr reported based on regulatory filing sourced from the Registrar of Companies (RoC).
Of the total, Crystal Investment Advisors invested Rs 193 crore, while Morde Foods Private Ltd contributed Rs 28 crore.
The Mumbai-based company will use the fresh capital for growth initiatives and for operational purposes.
This marks the second fundraise for Neo in the past four months after it raised Rs 162 crore ($19 million) through equity shares in a round led by VT Capital, with participation from 17 other investors.
In 2023, Neo announced a $23 million round led by Peak XV Partners.
Founded by Nitin Jain and Hemant Daga in 2021, Neo Group is a wealth and asset management company. Its India-focused Alternative Asset Management arm, Neo Asset Management, claims to have managed more than Rs 10,000 crore of assets under management (AUM).
Earlier in April , Neo Asset marked the first close of its second private credit fund at Rs 2,000 crore.
For the fiscal year ended March 2024, Neo recorded a 2.7 times year-on-year jump in revenue to Rs 177 crore, even as its losses widened to Rs 13.7 crore during the period. The company is yet to file its financials for FY25.
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