OnFinance has raised 4.2 million (about INR 37 crore) in a pre-series A round led by Peak XV’s Surge. The round saw participation from Groww Founders’ Fund, MarsShot VC (Razorpay Founders’ Fund), Climber Capital, and Shyamal Hitesh Anadkat, head of applied Artificial Intelligence at OpenAI, alongside existing backers Indian Angel Network and Silverneedle Ventures. The Bengaluru-based startup said it will use the capital to scale contracts with Indian clients, foray into the US and MENA markets, and double down on BFSI-specific large language model research.
Founded in 2023 by Anuj Srivastava and Priyesh Srivastava, OnFinance began by offering Artificial Intelligence copilots for equity research analysts before pivoting to compliance, risk, and audit. The company argues that compliance datasets such as SEBI circulars and RBI guidelines are more structured and closed ended, making them better suited for enterprise-grade Artificial Intelligence than open-ended research tasks. This shift led to the launch of ComplianceOS, an operating system for compliance teams powered by NeoGPT, the company’s proprietary BFSI-focused large language model built on top of open source Llama 3.3 and trained on decades of SEBI, RBI, IRDAI, and AMFI data.
OnFinance has also developed InvestigativeOS, which hosts more than 70 Artificial Intelligence agents for risk and audit workflows. These agents automate tasks such as KYC validation, SEBI’s cyber resilience compliance, vendor risk assessments, accessibility compliance, and market abuse surveillance covering insider trading, front running, and manipulative trades. The startup counts BSE, Kotak Mutual Fund, Nippon Mutual Fund, HDFC Securities, and Aditya Birla Capital Digital among its more than 15 clients. It said it was EBITDA positive in March 2025 and nearly breakeven for FY25, with an approximately INR 74 lakh loss for the year.
The company is piloting its platform with banks in the US and expects deal sizes to be two to three times larger than in India, with strong upsell potential across banking, brokerage, and insurance units. OnFinance deploys its stack on premises by helping institutions procure GPUs for bare metal servers, or via private clouds on AWS, Azure, GCP, or Oracle. It has also built a Model Context Protocol server that connects its agents with clients’ systems of record such as HRMS and internal governance tools, which the company says enables production-grade deployments. The raise comes amid accelerating adoption of Artificial Intelligence in fintech, with other agentic and no-code players like Pascal AI and iTuring.ai also attracting investor interest in recent months.
