Bengaluru-based OnFinance AI, a generative AI platform tailored for the Banking, Financial Services, and Insurance (BFSI) ecosystem, has raised $4.2 million in Pre-Series A funding. The round was led by Peak XV’s Surge, with participation from Shyamal Hitesh Anadkat, Groww Founders’ Fund, MarsShot VC (Razorpay Founders’ Fund), Climber Capital, and existing backers Indian Angel Network (IAN) and Silverneedle Ventures (SNV).
The company previously raised $1.05 million in seed funding from Haystack and others. The new capital will accelerate the expansion of domain-specific AI models, scale engineering and research teams, and fuel its entry into international markets.
Founded in 2023 by Anuj and Priyesh Srivastava, OnFinance AI builds generative AI-powered compliance and risk management platforms for BFSI institutions. Its flagship product, ComplianceOS, is powered by NeoGPT, India’s first BFSI-focused LLM trained on more than 300 million tokens of regulatory data from SEBI, RBI, IRDAI, and AMFI.
ComplianceOS hosts 70+ intelligent agents that enable banks, insurers, and asset managers to interpret regulations, monitor compliance, and reduce manual overheads. Complementing this is InvestigativeOS, which delivers AI-driven solutions for KYC compliance, vendor risk assessment, cybersecurity and resilience (CSCRF), accessibility compliance, and market surveillance against threats such as insider trading and front-running.
By combining deep financial datasets with purpose-built LLMs, OnFinance AI is enabling institutions to move away from manual compliance workflows, offering faster, more reliable, and scalable processes that free up bandwidth for innovation and growth.
By: Arushi Agarwal
