Explore the latest news, in-depth reports, and executive analysis tagged with #Neo.
The round values the digital banking startup at $450 million, marking a steep decline from the $1.5 billion it commanded in 2022.
The acquisition comes just months after C2i Semiconductors raised Series A funding led by venture capital firm Peak XV Partners.
The round also saw participation from existing investors Notable Capital, NEA, Neo Ventures and 8VC, along with new investors Acrew, Forerunner, Goodwater and Peak XV.
The investment comes soon after Neo secured funding from TVS Capital earlier in March.
Enforcement Directorate (ED), Directorate General of GST Intelligence (DGGI) actions against online gaming and fintech companies in last couple of months.
Over the past three months, officials from 6-7 fintech firms, including Fino Payments Bank, have been arrested, sent to custody, had their offices searched, or bank accounts frozen in connection with illegal gaming tax evasion cases.
NeoSapien survived three near shutdowns before launch, highlighting how brutal fundraising remains for India’s early-stage hardware startups.
Fi had launched banking services in partnership with Federal Bank in 2021.
The Mumbai-based company will use the fresh capital for growth initiatives and for operational purposes.
Jitendra Gupta, founder, Jupiter Money, also invested in the round in his personal capacity.
Niyo's net losses narrowed to Rs 77.8 crore in FY25 from Rs 143.5 crore in the previous financial year.
Total expenses of the startup fell 18% to Rs 160 crore in the last financial year from Rs 195 crore in FY24.
The licence allows Jupiter to sell both life and general insurance policies through its app.
The startup has raised $500,000 in a pre-seed funding round led by Indian investor Manit Gupta.
Once celebrated for disrupting SME banking with its neobank model, Open’s journey since hitting the $1 billion mark in 2022 has been anything but smooth.
Launched three months ago, NSCOF-II -- a SEBI-registered Category II Alternative Investment Fund (AIF) -- is targeting a total corpus of Rs 5,000 crore.
Yusuf Pachmariwala will be succeeding Anup Neogi as Hitachi Cash Management Services' managing director and chief executive officer.
The Series B round was led by Creaegis, with participation from HSBC, SBI Investment, GMO Venture Partners, DG Daiwa Ventures, and existing investors. This also includes a $200 million warehouse line (debt).
Prithvi Raj Tejavath, business head - investments, Vivek Agarwal, operations platform head - investments, and Aastha Sood, director-products have resigned from the Bengaluru-based fintech.
The Peak XV-backed company saw its net losses go down to Rs 275.9 crore in FY24 compared to Rs 327 crore in FY23.
