Mumbai Angels back cloud-based neobank Nemo with undisclosed funding amount

A brainchild of IIM Ahmedabad alumni, Nemo is creating a unique business that aims to empower Indian MSMEs with the financial tools, resources, and networks that large corporations have access to

Early-stage investors’ platform Mumbai Angels Network has invested an undisclosed amount in Nemo, a cloud-based neobank for small businesses. The freshly infused funds will be utilised by the startup to accelerate its product development, hiring, and customer acquisition.

A brainchild of IIM Ahmedabad alumni Ashish Deswal and Jeevan Gopisetty, Hyderabad-based Nemo is on a mission to create a first-of-its-kind business through its banking platform that aims to simplify the financial aspect of business for India’s micro entrepreneurs and empower them with the right tools, resources, and networks that large corporations have access to.

“The next decade will be a golden