Condukt, a compliance platform for financial services founded by former employees at Revolut, has raised £7.6 million in funding.
CEO Paulo Guichard and Bhasker Rao met at Revolut Business, having held senior roles at SumUp and Square (now Block) respectively.
They founded Condukt in May 2023. The firm says it already powers compliance for the likes of Wise, Tide, Mollie, Rakuten, Shift 4, Flatpay and myPOS.
It operates from London and Porto, with a team of former Revolut and Meta engineers.
The round was led by Lightspeed Venture Partners and MMC Ventures, with participation from Cocoa Ventures. It will accelerate Condukt’s mission to redefine know-your-business processes and “transform compliance from a cost centre into a driver of growth, operational efficiency and trust”.
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Its agentic solution automates manual compliance workflows, replaces outdated datasets and monitors business changes as they occur – enabling perpetual oversight rather than static, periodic checks.
“Compliance should be a growth enabler, not a bottleneck,” said 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.”
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 Rao.
“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.”
With the new funding, Condukt plans to deepen partnerships with top financial institutions, accelerate its go-to-market strategy 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.”