Condukt Raises US$10 Million Seed Round

Condukt, the next-generation compliance platform for financial services, led by Paulo Guichard and Bhasker Rao, has secured US$10 million in funding led by Lightspeed Venture Partners and MMC Ventures, with participation from Cocoa Ventures.

The funding will accelerate Condukt’s mission to reinvent KYB and make compliance a driver of growth. Launched in 2023, Condukt already powers compliance for leading fintechs like Wise, Tide, Mollie, Rakuten, Shift4, Flatpay, and myPOS.

With rising regulatory demands and new AI capabilities, Condukt introduces a real-time data layer and agentic automation that replaces manual workflows and legacy datasets, enabling continuous, always-on compliance instead of periodic checks.

A Forrester report shows businesses now spend $206 billion annually on financial crime compliance, with 98% seeing rising costs, driven largely by labor. Regulators have already issued more than $6 billion in AML fines in 2025, signaling a tougher enforcement environment.

Founded by fintech veterans from Revolut, SumUp, and Square, Condukt operates from London and Porto with a team of ex-Revolut and Meta engineers. The new funding will help deepen partnerships with leading financial institutions, accelerate go-to-market efforts, and expand its engineering team.

“Compliance should be a growth enabler, not a bottleneck,” said Paulo Guichard, co-founder and CEO of Condukt. “Condukt is built as an always-on data nervous system, using real-time intelligence and AI agents to automate KYB checks, remove repetitive work, and ensure compliance keeps pace with every business change.”

“With regulators shifting toward perpetual KYB, manual processes are becoming unsustainable,” said Bhasker Rao, co-founder of Condukt. “Automated monitoring and real-time insights are now essential. Our infrastructure delivers this continuously, helping regulated businesses stay compliant without slowing operations or driving up costs.”

“Condukt is redefining compliance with real-time, perpetual oversight,” said Alex Schmitt, Partner at Lightspeed. “Its proven technology and strong customer base position it to lead a new category of always-on, agentic compliance.”

“The market is at an inflection point,” added Ollie Richards, Partner at MMC Ventures. “Condukt’s vision for automated, perpetual KYB is the future of risk and operations. The team’s expertise and execution set them apart.”