London-based Condukt, a next-generation compliance platform for financial services, has raised $10 million in seed funding and emerged from stealth. The round was led by Lightspeed Venture Partners and MMC Ventures, with participation from Cocoa Ventures.
Founded in May 2023, Condukt is designed as an agentic, real-time compliance solution that is always-on and policy-aware, giving financial institutions and fintechs actionable insights into business verification to support growth, efficiency, and stronger compliance.
Rising regulatory scrutiny and advances in artificial intelligence are creating an opportunity to rethink how compliance is managed. A recent Forrester report estimates that businesses spend $206 billion annually on financial crime compliance (FCC), with 98 per cent of institutions reporting rising FCC costs and labour identified as the main driver. At the same time, 2025 has seen record-breaking AML penalties, with more than $6 billion in fines issued globally by July, signalling a stricter enforcement environment for banks.
According to Bhasker Rao, co-founder at Condukt, 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.
Condukt’s platform introduces a proprietary real-time data layer that continuously synchronises with clients’ operations. Its agentic solution automates manual compliance workflows, replaces legacy datasets, and monitors business changes as they occur, enabling ongoing oversight instead of static, periodic checks.
The company already supports compliance operations for fintech companies, including Wise, Tide, Mollie, Rakuten, Shift4, Flatpay, and myPOS.
With the new funding, Condukt plans to deepen partnerships with major financial institutions, accelerate its go-to-market efforts, and continue hiring engineering talent.
The investment will also support Condukt’s goal of redefining know-your-business (KYB) processes and positioning compliance as a driver of growth, operational efficiency, and trust rather than solely a cost centre.
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