OnFinance AI, a generative AI platform purpose-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.
The round also saw participation from prominent investors and operators, including Shyamal Hitesh Anadkat from OpenAI, Groww Founders’ Fund, MarsShot VC (Razorpay Founders’ Fund), Climber Capital, along with existing investors Indian Angel Network (IAN) and Silverneedle Ventures (SNV).
The funds raised will be used to expand its proprietary BFSI-focused AI models, accelerate R&D and hiring in engineering and AI research, and extend its reach to new international markets.
The Bengaluru-based startup had previously raised $1.05 million in a seed funding round from Haystack and others.
Founded in 2023 by Anuj Srivastava and Priyesh Srivastava, OnFinance AI is a generative AI platform purpose-built for the Banking, Financial Services, and Insurance (BFSI) sector.
OnFinance AI’s flagship platform, ComplianceOS, is powered by NeoGPT, India’s first BFSI-specific large language model, fine-tuned on more than 300 million tokens of regulatory data across SEBI, RBI, IRDAI, and AMFI publications. ComplianceOS brings automation and intelligence into the heart of compliance by hosting a suite of more than 70 regulatory AI agents that can interpret regulations, assign tasks, track deadlines, and generate audit-ready evidence in real time. Institutions using ComplianceOS already save over 100 hours of manual effort per regulatory circular, cutting processes that once took weeks down to minutes.
Alongside ComplianceOS, the company also offers its InvestigativeOS platform, which delivers deeper, specialized compliance and risk capabilities. These include KYC compliance, CSCRF (cyber security and resilience framework) compliance, accessibility compliance mandated under SEBI’s PwD rules, vendor risk assessment, and market abuse compliance AI for surveillance of insider trading, front-running, and manipulative behaviors.
Together, these platforms give BFSI institutions an end-to-end compliance infrastructure that is proactive, auditable, and regulator-ready by design.
OnFinance AI is trusted by leading financial institutions in India, including BSE Limited, Kotak Mutual Fund, Nippon India Mutual Fund, Aditya Birla Capital Digital, HDFC Securities, and many more BFSI institution.
Anuj Srivastava, Co-Founder & CEO of OnFinance AI, said, “Our mission is to turn regulatory complexity into clarity for banks and financial institutions. 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.”
