Condukt lands £7.5m in funding led by Lightspeed Venture Partners and MMC Ventures to automate fintech compliance checks

Condukt, the next generation compliance platform for financial services, today announced a £7.5 million in funding led by Lightspeed Venture Partners and MMC Ventures, with participation from Cocoa Ventures. 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, Shift 4, Flatpay, and myPOS.

Increases in regulatory scrutiny and advancements in artificial intelligence 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 Its agentic solution automates manual compliance workflows, replaces outdated datasets, and monitors business changes as they occur - enabling perpetual oversight rather than static, periodic checks.

According to a recent Forrester report, $206bn is spent annually by businesses to meet financial crime compliance (FCC) standards, with 98% of institutions reporting an increase in FCC costs. Labour 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.

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.

Compliance should be a growth enabler, not a bottleneck. 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.

Paulo Guichard, Co-founder & CEO

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. 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.

Bhasker Rao, Co-founder

Condukt is truly redefining compliance with its real time data infrastructure, delivering a foundational shift from periodic to perpetual oversight. 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.

Alex Schmitt, Partner at Lightspeed Venture Partners

The compliance market is at an inflection point. 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.

Ollie Richards, Partner at MMC Ventures

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