The funding will accelerate Condukt’s mission to redefine know-your-business (KYB) processes and transform compliance from a cost centre into a driver of growth, operational efficiency, and trust. Started in May 2023 and operating quietly in stealth until now, Condukt already powers compliance for the world’s leading fintechs, including Wise, Tide, Mollie, Rakuten, Shift4, Flatpay, and myPOS.

Increases in regulatory scrutiny and advancements in artificial intelligence (AI) are creating an opportunity to reimagine how compliance operates. Condukt’s platform introduces a proprietary real-time data layer that continuously synchronises with clients’ operations. Its agentic solution automates manual compliance workflows, replaces outdated datasets, and monitors business changes as they occur – enabling perpetual oversight rather than static, periodic checks.

“Compliance should be a growth enabler, not a bottleneck,” said Paulo Guichard, Co-Founder and CEO of Condukt. “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.”

According to a recent Forrester report, $206 billion is spent annually by businesses to meet financial crime compliance (FCC) standards, with 98% of institutions reporting an increase in FCC costs. Labor was identified by those surveyed as the biggest driver of additional spend.

Meanwhile, 2025 has seen record-breaking AML penalties with regulators handing out over $6 billion in fines globally by July, heralding a new era of compliance for banks.

“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,” added 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 was founded by experienced fintech operators, Paulo and Bhasker, who met at Revolut Business, having held senior roles at SumUp and Square (now Block), respectively. The company operates from London and Porto, with a team of former Revolut and Meta engineers.

With the new funding, Condukt plans to deepen partnerships with top financial institutions, accelerate its go-to-market, and continue to hire top engineering talent.

“Condukt is truly redefining compliance with its real-time data infrastructure, delivering a foundational shift from periodic to perpetual oversight,” said Alex Schmitt, Partner at Lightspeed Venture Partners. “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.”

“The compliance market is at an inflection point,” added Ollie Richards, Partner at MMC Ventures. “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.”

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