Peak XV Partners has invested $35 million in Neo, a fintech startup founded by industry veterans that is increasingly challenging incumbents including IIFL, Edelweiss and Waterfield Advisors, as the largest India-focused VC broadens its bets on wealth and asset management. Neo operates a suite of wealth and asset management services, serving businesses, sovereign and pension funds and large family offices and individuals with ultra-high net-worths. The firm, which began operations in 2021, has already amassed over a 1,000 customers, said Neo founder Nitin Jain in an interview.