Wealthtech firm Neo to raise $19 Mn

Consumer facing wealth and asset management firm Neo is in final stages to raise Rs 162 crore (approximately $19 million) through equity shares, led by VT Capital and with participation from 17 other investors.

The board of Neo has passed a special resolution to issue 1,887 equity shares at Rs 8,60,410 each, to raise Rs 162.3 crore ($19 million), according to its regulatory filing sourced from the Registrar of Companies (RoC).

VT Capital will invest Rs 50 crore, while individual investor Ramesh Kunhikannan will contribute Rs 20 crore. Sattva Family…