Funding fuels Condukt’s compliance push

A London-based fintech is set to accelerate the development of next-generation compliance technology following a major investment round.

Condukt has secured $10 million in funding to scale its real-time compliance platform, which aims to replace manual checks with automated, continuously updated oversight for financial institutions. 

The raise was led by Lightspeed Venture Partners and MMC Ventures, with support from Cocoa Ventures, and marks the company’s first public step out of stealth since launching in 2023.

Condukt’s platform is already used by leading global fintechs including Wise, Tide, Mollie, Rakuten, Shift4, Flatpay and myPOS. 

Its technology centres on a proprietary data layer that syncs with client operations in real time, allowing businesses to adapt to risk changes as they happen. 

Condukt’s agentic workflow automation also removes the need for static, periodic know-your-business checks, addressing rising regulatory expectations and the high cost of manual compliance processes.

Alex Schmitt, partner at Lightspeed Venture Partners, said: “Condukt is truly redefining compliance with its real-time data infrastructure, delivering a foundational shift from periodic to perpetual oversight.

“Having proven its technology with leading fintech firms, Condukt is now emerging from stealth with the commercial maturity and client base to lead a new category of always-on, agentic compliance.”

Ollie Richards, partner at MMC Ventures, added: “The compliance market is at an inflection point. 

“Condukt’s vision for agentic, perpetual KYB represents the future of how financial institutions will manage risk, growth, and operations in tandem. 

“The team’s depth of domain expertise and proven execution make them uniquely positioned to define this category.”

Founded by former Revolut Business colleagues Paulo Guichard and Bhasker Rao, Condukt says it will use the investment to deepen partnerships with financial institutions, accelerate its go-to-market plans and expand its engineering team in London and Porto.

Paulo said: “Compliance should be a growth enabler, not a bottleneck. 

“Our vision is an agentic onboarding solution that fully automates KYB checks. 

“We designed Condukt as an always-on nervous system that lives and breathes real-time data. 

“By combining this proprietary data infrastructure with AI agents, we eliminate repetitive checks and ensure compliance keeps pace with any business change.”

Bhasker added: “With regulators moving towards perpetual KYB, and the cost of meeting these demands via manual processes weighing heavy on balance sheets, compliance teams face a perfect storm. 

“Automated monitoring and live insights from open-source data are fast becoming essential. 

“Our infrastructure delivers exactly this – allowing regulated businesses to stay continuously compliant, without slowing down their operations or suffering from burgeoning costs.”

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