Wealth and asset management startup Neo bags $35 million funding from Peak XV

Wealth and asset management startup Neo has raised $35 million (around Rs 300 crore) in its latest funding round from Peak XV Partners (formerly Sequoia India) to expand its existing business offerings. The firm is looking to expand its team in India and enter more markets including the tier-II and tier-III cities. Neo has around 350 employees and is looking to take the total number of employees to around 500 in the next 12-18 months. “The quality of talent we can attract, retain and build is very important for a business like ours. We do hope to become a lot more aggressive in the next 12-18 months within the wealth and asset management space…I expect more offices of Neo in at least 12-15 cities by the end of 18 months,” said Nithin Jain, founder and managing director of Neo Group in an interaction with Moneycontrol. Founded in 2021 by Jain who was the former CEO of wealth and asset management, at Edelweiss Financial Services, roped in Macquarie Group ex-country head Varun B