OnFinance AI raises $1.05 Mn in seed round

OnFinance.ai, a provider of generative AI SaaS solutions, has raised $1.05 million in a seed round led by Silverneedle Ventures and IAN. The funding round also saw participation from notable investors, including LetsVenture Fund, SSV Fund, and Kunal Shah (CRED), along with some marquee angels.

OnFinance.ai will be using the money to expand its engineering team and to scale its solution globally, especially in the US, it said in a press release. 

Co-founded by Anuj Srivastava and Priyesh Srivastava, OnFinance.ai delivers AI co-pilots for research analysis, relationship management, sales, and customer success teams within banking institutions, asset management companies (AMCs), and wealth management firms. 

OnFinance.ai's in-house LLM, NeoGPT, integrates various data sources to provide rapid, accurate financial insights. NeoGPT replaces multiple outdated AI models, allowing clients to adopt it without altering their existing tools, thus simplifying and enhancing financial operations.

The Bengaluru-based company is actively planning to extend its services to banks and wealth management firms based in the US and the UK, owing to the significant interest and demand for their NeoGPT AI Co-pilots in these regions.