OnFinance AI has secured $4.2 million in pre-Series A funding. The round was led by Peak XV’s Surge and saw participation from marquee investors including Shyamal Hitesh Anadkat from OpenAI, Groww Founders’ Fund, MarsShot VC (Razorpay Founders’ Fund), Climber Capital, Indian Angel Network, and Silverneedle Ventures.
Founded in 2023 by Anuj Srivastava and Priyesh Srivastava, both alumni of BITS Pilani, OnFinance AI develops generative AI platforms tailored for compliance, regulatory workflows, and research within financial institutions. The company operates out of Bengaluru and Mumbai, with plans to expand internationally.
The new capital will be deployed to strengthen its engineering and AI research teams, advance its proprietary NeoGPT large language model, and expand operations across the MENA region and the United States.
OnFinance AI’s platform is already being used by leading Indian financial institutions including NSE, BSE, ICICI Bank, HDFC Securities, Kotak Mutual Fund, Nippon India Mutual Fund, and Aditya Birla Capital Digital.
Its flagship solution, ComplianceOS, automates compliance tracking and report generation, reportedly saving internal teams over 100 hours per regulatory update.
“Regulations in BFSI are complex and dynamic. Our proprietary AI agents are built not only to interpret regulatory frameworks but also to ensure transparent, explainable, and audit-ready outputs,” said Anuj Srivastava, Co-founder, OnFinance AI.
“NeoGPT is like having a smart assistant that simplifies data while empowering internal teams to make smarter, more efficient decisions,” he added.
The company emphasises that its platform is hallucination-resistant and aligned with regulatory requirements from SEBI, RBI, IRDAI, AMFI, and international authorities, making it well-suited for compliance-driven industries.
With India home to one of the largest and most dynamic financial services sectors, OnFinance AI sees a growing opportunity to transform compliance, equity research, and credit underwriting through generative AI.
The fresh funding, combined with its expanding global presence, positions the company as a trusted partner in AI-led transformation for financial institutions.
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