OnFinance AI, a generative AI platform built for the banking, financial services, and insurance (BFSI) industry, has raised $4.2m in a Pre-Series A round.
The funding was led by Peak XV’s Surge, with participation from Shyamal Hitesh Anadkat of OpenAI, Groww Founders’ Fund, MarsShot VC (Razorpay Founders’ Fund), Climber Capital, as well as existing backers Indian Angel Network and Silverneedle Ventures, according to a report from APN News.
Founded in 2023, OnFinance AI specialises in developing AI systems that simplify regulatory compliance, risk, and audit for financial institutions.
The company plans to use the fresh capital to accelerate research, expand internationally, and enhance its AI-powered offerings.
OnFinance AI’s platform powers 70+ regulatory AI agents through ComplianceOS. These agents interpret regulatory circulars, allocate tasks, track deadlines, and generate audit-ready documentation, reducing processes that once took weeks into just minutes.
Another product, InvestigativeOS, extends coverage to KYC, cyber resilience, SEBI accessibility rules, vendor risk assessment, and surveillance for market misconduct such as insider trading or manipulation. The firm’s regulatory scope spans more than 40 domains including SEBI, RBI, IRDAI, AMFI, NSE, BSE, and NPCI, with growing support for international regulators such as the SEC, FCA, and MAS.
OnFinance AI co-founder and CEO Anuj Srivastava 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.”
OnFinance AI co-founder and CTO Priyesh Srivastava added, “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.”
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