India's wealthtech space just minted a new unicorn.

Neo Wealth and Asset Management group has raised ₹500 Cr from TVS Capital and its affiliates at a ₹10,000 Cr ($1.08B) valuation.

Founded in 2021 by Nitin Jain the Mumbai-based company is building a wealth and asset management platform for HNIs, UHNIs, and family offices.

The funds will be used to accelerate growth and deliver specialized investment solutions to clients.

Key highlights:

• Now a unicorn in India's wealthtech space
• Manages ~₹1 lakh Cr in client assets (AUM)
• Backed by Peak XV Partners, MUFG Bank, and Euclidean Capital
• Marks TVS Capital's first investment in wealth management

Why this matters:

India's rising affluent class is driving massive demand for modern wealth platforms.

: Will wealthtech unicorns redefine how India manages money?