OnFinance AI, based in Bengaluru, has raised US$4.2 million in a pre-series A round led by Peak XV’s Surge, with participation from 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, OnFinance AI develops generative AI platforms focused on compliance for the banking, financial services, and insurance sectors, with offices in Bengaluru and Mumbai.

The company will use the new funding to expand its engineering and AI research teams, advance its proprietary BFSI-specific large language models, and grow its presence in MENA and the US.

OnFinance AI’s platform is used by Indian financial institutions such as BSE Limited, Kotak Mutual Fund, Nippon India Mutual Fund, Aditya Birla Capital Digital, HDFC Securities, and several other BFSI organizations.

🔗 Source: OnFinance AI