Condukt emerges from stealth with $10M to power next-generation compliance

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.