India, Sept. 22 -- Bengaluru-based OnFinance AI has raised $4.2 Mn (about INR 37 Cr) in its pre-Series A round led by Peak XV's Surge. The round also saw participation from Groww Founders' Fund, MarsShot VC (Razorpay Founders' Fund), Climber Capital, Shyamal Hitesh Anadkat, head of Applied AI at OpenAI, along with existing backers Indian Angel Network and Silverneedle Ventures.

The startup will use the capital to expand contracts with Indian clients, foray into the US and MENA markets, and double down on BFSI-specific large language model (LLM) research.

Founded in 2023 by Anuj Srivastava and Priyesh Srivastava, OnFinance is an AI startup focussed on the BFSI sector. Initially, it provided AI copilots for equity research analysts. Withi...