Condukt, an AI-based compliance startup founded by former employees of Revolut, has raised $10 million to support expansion into regulated financial services.
The funding was led by Lightspeed Venture Partners and MMC Ventures, with participation from Cocoa Ventures.
Condukt was founded by experienced fintech operators, Paulo Guichard and Bhasker Rao, who met at Revolut Business, having held senior roles at SumUp and Square, respectively. The company operates from London and Porto, with a team of former Revolut and Meta engineers.
Started in May 2023 and operating quietly in stealth until now, Condukt already powers compliance for leading fintechs, including Wise, Tide, Mollie, Rakuten, Shift4, Flatpay, and myPOS.
Condukt’s platform introduces a proprietary real-time data layer that continuously synchronizes with clients’ operations. Its agentic technology automates manual compliance workflows, replaces outdated datasets, and monitors business changes as they occur.
“Compliance should be a growth enabler, not a bottleneck,” says CEO Guichard. “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.”