Condukt, the next-generation compliance platform for financial services, has raised US$10m in a seed round led by Lightspeed Venture Partners and MMC Ventures, with additional participation from Cocoa Ventures.
The new capital will support Condukt’s mission to modernise know-your-business (KYB) processes and reposition compliance as a driver of growth, operational efficiency and trust, rather than a cost centre.
Founded in May 2023, Condukt is designed to help regulated companies manage compliance more effectively. Despite operating in stealth until now, the company already supports leading FinTech firms including Wise, Tide, Mollie, Rakuten, Shift4, Flatpay and myPOS.
The platform introduces a proprietary real-time data layer that continuously synchronises with client operations. This agentic system automates manual compliance workflows, replaces static datasets and monitors business changes as they occur to enable continuous KYB oversight.
Additional product capabilities include automated monitoring, a live insights engine and AI-driven workflow automation, all built to help organisations manage rising regulatory pressure. These tools aim to replace periodic KYB reviews with a perpetual compliance model.
Recent industry data highlights the need for such solutions. A Forrester report found that businesses spend $206bn annually on financial crime compliance, with 98% of institutions reporting increased costs. Labour remains the largest contributor to rising spend. Meanwhile, global AML penalties surpassed $6bn by July 2025, signalling tougher enforcement across the sector.
Condukt was founded by experienced FinTech operators Paulo Guichard and Bhasker Rao, who met at Revolut Business and previously held senior roles at SumUp and Square (now Block). The company operates from London and Porto, supported by a team of engineers from Revolut and Meta. With fresh investment, Condukt plans to expand its partnerships with financial institutions, ramp up go-to-market efforts and grow its engineering team.
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.”
Condukt 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.”
Adclear, the AI-driven FinProm compliance platform relied upon by leading UK finance brands, has recently closed an oversubscribed £2.1m seed round.
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