London-based Zango AI, a RegTech startup leveraging artificial intelligence to overhaul financial compliance systems, has secured $4.8m in fresh funding.
The seed round was led by Nexus Venture Partners, with participation from South Park Commons, Richard Davies, CEO of Allica Bank, Alan Morgan, former head of financial services at McKinsey (EMEA), Mark Ransford, Notion Capital, No Label Ventures, and Start Ventures, according to Finextra.
Zango develops regulation-aware AI agents that continuously track updates in legislation, detect real-time compliance gaps, and ensure firms remain audit-ready. The platform is already in use by banks such as Novobanco in Portugal, as well as neobanks in the UK and EU, including Monzo and Juni.
The company is currently training Large Language Models (LLMs) to power a query-based governance, risk, and compliance (GRC) system. This will allow users to ask questions like “I want to launch a lending product in [Y] market — what do I need to do?”, with the system returning specific regulatory steps and guidance.
With the new capital, Zango plans to expand its teams in London and Bengaluru, while also building out additional product modules to support its vision of an AI-native GRC platform. The firm also aims to extend its services into broader financial sectors, including insurance and asset management, beyond its current banking clientele.
The startup’s leadership brings significant industry expertise. Co-founder Ritesh Singhania previously founded pension compliance platform ClearGlass and was head of technology at Simplitium, later acquired by Nasdaq. Fellow co-founder Shashank Agarwal co-founded AI fraud detection startup Third Watch, which was acquired by Razorpay, and led trust and compliance engineering at PhonePe.
Zango CEO Ritesh Singhania said, “Our AI agents are paired with humans-in-the-loop to ensure 100% accuracy. Peace of mind doesn’t come from a tool; it comes from a result. That’s why we win against consultants — because they don’t just sell software, and neither do we.”
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