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Project

OnFinance.ai's $1.05M Seed Round Success

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Introduction

OnFinance.ai(OnFi) is a Bengaluru-based provider of generative AI SaaS solutions. OnFi is transforming the financial services sector with its proprietary large language model, NeoGPT. Designed for banking institutions, asset management companies, and wealth management firms, NeoGPT offers rapid and accurate financial insights, acting as an AI co-pilot. The model integrates seamlessly with existing tools, making it a game-changer in financial operations without requiring significant infrastructural changes.

 Problem

OnFinance.ai aimed tosecure $1.05 million in seed funding to expand their engineering team and scaleglobally, particularly in the US and UK markets. Their objectives include establishing a strong presence in the US, extending services to UK-based financial firms, and enhancing their AI model, NeoGPT, for competitive advantage. The challenges included navigating complex regulatory landscapes, aligning diverse investor interests, and presenting a compelling investment case during due diligence.

Solution

Agrim Advisors played a pivotal role in guiding OnFi through this complex transaction.

  1. End-to-End Deal Management: We provided comprehensive support throughout the entire funding process, from drafting agreements to regulatory compliance and due diligence.
  2. Regulatory Expertise: Our meticulous handling of ROC and FEMA compliance ensured that all legal and regulatory requirements were met, maintaining transparency and trust through out the deal.
  3. Investor Relations: We facilitated smooth negotiations and alignment of interests among a diverse group of investors, including Silverneedle Ventures, IAN, LetsVenture Fund, SSV Fund, and CRED’s Kunal Shah.
  4. DocumentPreparation: By managing the preparation and coordination of all necessary documentation, we streamlined the private placement process, making it efficient and effective.

Impact

OnFinance.ai successfully raised $1.05 million in their seed round, positioning them to expand their engineering team and scale operations globally. This capital infusion enables OnFi to:

  • Expand Their Engineering Team: Build a stronger technical foundation to enhance NeoGPT’s capabilities.
  • Scale Globally: Strategically enter the US and UK markets to meet the demand for AI-driven financial solutions.
  • Innovate and Lead: Continue to integrate diverse data sources and refine AI models for superior financial insights.

Agrim Advisors'comprehensive support was crucial in helping OnFi secure their seed funding andset the stage for future growth and innovation. This case study underscores our ability to navigate complex deal management processes and deliver exceptional results for our clients.