Bengaluru-based OnFinance AI, a generative AI platform built for the Banking, Financial Services, and Insurance (BFSI) sector, has raised $4.2 million in a Pre-Series A funding round led by Peak XV’s Surge.
Other investors included 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 will use the new funding to improve its BFSI-focused AI models, hire more people for research and engineering, and expand into global markets.
“Our mission is to turn regulatory complexity into clarity for banks and financial institutions,” said Anuj Srivastava, Co-Founder & CEO of OnFinance AI. “This funding validates the urgent need for innovation in compliance. With the support of Peak XV and our other investors, we will accelerate BFSI-specific AI solutions that deliver unmatched clarity, speed, and trust.”
Priyesh Srivastava, Co-Founder & CTO, said, “Generic AI cannot solve BFSI’s problems. With NeoGPT and ComplianceOS, we are already delivering regulator-grade outcomes that traditional processes and generic models cannot match. This capital will allow us to double down on research, expand internationally and continue pioneering agentic AI for compliance and risk.”
OnFinance AI was founded in 2023 by Anuj Srivastava and Priyesh Srivastava. It creates generative AI solutions for the BFSI sector, focusing on regulatory compliance, risk management, and audit automation.
Its main product, ComplianceOS, runs on its own NeoGPT LLM and includes more than 70 intelligent agents. These tools help banks, insurers, and asset managers understand regulations, track compliance, and simplify processes.
NeoGPT is India’s first large language model built specifically for the BFSI sector. It is trained on over 300 million tokens from SEBI, RBI, IRDAI, and AMFI publications.
The company also offers InvestigativeOS, which supports KYC compliance, cybersecurity and resilience (CSCRF) compliance, SEBI accessibility rules for persons with disabilities, vendor risk checks, and AI-powered monitoring for market abuse and insider trading.
OnFinance AI uses AI and financial expertise to automate complex compliance tasks. This helps institutions stay accurate, lower risks, and focus more on growth and innovation.
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