Funding · Enterprise Software & IT

TBO Tek raises Rs 220 crore in Series F led by Neo Asset Management

By Startup Enthusiast · 11 February 2026

What they do

TBO Tek provides identity verification and fraud prevention technology for businesses

The company raised Rs 220 crore led by Neo Asset Management with other investors

This brings total funding to over $70 million as it expands across regions

TBO Tek secured board approval for a Series F CCFP issuance via special resolution.
CCFP (Compulsory Convertible Preference Shares) are shares that convert to equity later.
The company raised Rs 220 crore which is approximately $25 million USD.
Neo Asset Management led the round by investing Rs 189 crore.
Other participants included Blume Ventures, Emerald Lush, Elev8, IndiaMart, and Kael.
Shares were issued at Rs 901.7 each totaling 24,39,850 Series F CCFP.
The post-money valuation stands at roughly Rs 2,420 crore or $272 million.
Funds will support growth initiatives and strengthen the company's balance sheet.

This round marks a significant capital injection for TBO Tek's expansion plans.
The high valuation reflects strong investor confidence in its fraud prevention niche.
Total funding now exceeds $70 million indicating sustained market interest.

TBO Tek offers identity verification and fraud prevention solutions for enterprises.
It helps onboard verified entities securely across various digital platforms.
The company serves over 1,500 clients including BFSI and e-commerce firms.
Key sectors include FMCG gaming sharing economy and conglomerates.
It operates in India Southeast Asia and the Middle East markets.
Revenue grew 28.3% year-on-year to Rs 186 crore in FY25.
Net profit reached Rs 1.6 crore in the fiscal year 2025.
Previous rounds included investments from Elev8 KB Investment and Tenacity.

Neo Asset Management (lead) — Investment management firm leading the Series F round.
Blume Ventures (co-lead) — Venture capital firm participating in the funding round.
Emerald Lush (participated) — Investor contributing Rs 11 crore to the round.
Elev8 (participated) — Investor contributing Rs 5 crore to the round.
IndiaMart (participated) — B2B marketplace platform investing in TBO Tek.
Kael (participated) — Investor participating in the Series F funding.