Condukt has secured a $10m seed round, marking a major step forward for the RegTech firm as it emerges from stealth mode.
The raise aims to support Condukt’s mission to redefine know-your-business (KYB) processes and shift compliance from a cost centre to a driver of growth, efficiency and trust.
Founded in May 2023, Condukt builds technology for financial institutions seeking to streamline compliance. The company already powers KYB processes for several leading FinTech firms including Wise, Tide, Mollie, Rakuten, Shift4, Flatpay and myPOS.
The company’s platform introduces a proprietary real-time data layer that synchronises continuously with clients’ operations. This supports an agentic system that automates manual workflows, replaces outdated datasets and provides perpetual compliance monitoring rather than periodic reviews.
Additional features include automated monitoring, AI-driven workflow handling and live insights sourced from open data channels. These capabilities aim to equip regulated companies with a scalable compliance infrastructure that can adapt instantly to operational changes.
A recent Forrester report found that businesses spend $206bn annually on financial crime compliance, with 98% of institutions reporting rising FCC costs. Labour remains the biggest driver of additional expenditure.
Meanwhile, 2025 has recorded over $6bn in AML fines globally by July, underlining the urgency for a more efficient compliance model.
Condukt’s founders, Paulo Guichard and Bhasker Rao, previously held senior roles at Revolut Business, SumUp and Square (now Block). The company operates from London and Porto and employs a team of engineers with backgrounds at Revolut and Meta. With the new capital, Condukt plans to strengthen ties with financial institutions, accelerate its go-to-market strategy and continue hiring engineering talent.
Condukt co-founder and CEO Paulo Guichard 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.”
Co-founder Bhasker Rao 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.”
Lightspeed Venture Partners partner Alex Schmitt 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.”
MMC Ventures partner Ollie Richards 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.”
Last week, Adclear, an AI-driven FinProm compliance platform, closed an oversubscribed £2.1m seed round.
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