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The funding round was co-led by Fidelity Management & Research Company and Amplify Partners.
The proposals are open for stakeholder comments until October 25, 2026.
Khara has nearly two decades of experience in product management, financial services and consumer technology.
Before joining Pluto, Abhishek Singh was associated with Upstox’s insurance business and spent more than a decade at OneInsure.
The company also plans to continue hiring senior bankers and investment specialists as it scales the new platform.
Nexedge plans to use the fresh capital to strengthen its technology platform, expand its senior banker network and increase its presence across India, including in tier-II and tier-III cities.
Paytm clarified that it is not involved in the proposed transaction and the founder’s direct shareholding in Paytm will remain unchanged following the block deal.
The funding round also saw participation from existing investors including Lightspeed India Partners and Burman Family Office, among others.
The company recorded a 61% year-on-year increase in assets under management (AUM) to Rs 8,001 crore in Q1 FY27.
The fund is anchored by Self-Reliant India Fund, HDFC Asset Management Company, and HDFC AMC Select AIF FoF.
The company will use the fresh capital to expand its network of wealth creators, and enhance its AI-powered wealth management platform, among others.
The investment comes soon after Neo secured funding from TVS Capital earlier in March.
Swaminathan has been part of Scripbox since 2016, beginning his journey in a growth-focused role.
Simo joined OpenAI’s board in 2024 before taking charge of the newly created CEO of Applications role in 2025.
Earlier this year, PhonePe's Share.Market and wealth business head Ujjwal Jain stepped down after four years with the company.
Loan disbursements rose 37% year-on-year to around Rs 3,812 crore during the first quarter of FY27.
Toro has been appointed Co-founder and Chief Technology Officer (CTO) while Banger has been named Co-founder and Chief Business Officer.
The ED alleged that these platforms advertised instant cross-border money transfer services using cryptocurrencies despite not being authorised payment system operators.
Kumar launched Setu in 2018 alongside Sahil Kini after previously cofounding customer feedback startup Voyce.
