Condukt Launches From Stealth With $10M To Drive Next-Gen Compliance

The funding was led by Lightspeed Venture Partners and MMC Ventures, with additional participation from Cocoa Ventures.

Founded in May 2023, Condukt is built as an agentic, real-time compliance platform that remains always-on and policy-aware, providing financial institutions and fintechs with actionable business-verification insights to drive growth, efficiency, and stronger compliance.

Increasing regulatory scrutiny, paired with advances in artificial intelligence, is reshaping how compliance functions are managed. According to a recent Forrester report, organisations spend $206 billion each year on financial crime compliance (FCC), with 98% of institutions reporting rising FCC costs labour being the primary contributor. Meanwhile, 2025 has already seen a surge in AML enforcement, with more than $6 billion in global penalties issued by July, underscoring a tougher regulatory climate.

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Bhasker Rao, co-founder of Condukt, notes that automated monitoring and real-time insights drawn from open-source data are rapidly becoming indispensable.

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 features a proprietary real-time data layer that stays continuously in sync with clients’ operations. Its agentic system automates manual compliance workflows, replaces legacy datasets, and tracks business changes as they happen enabling dynamic, ongoing oversight rather than static, periodic reviews.

The platform is already supporting compliance teams at fintech companies such as Wise, Tide, Mollie, Rakuten, Shift4, Flatpay, and myPOS.

With this new funding, Condukt plans to expand partnerships with major financial institutions, accelerate its go-to-market strategy, and continue growing its engineering team.

The investment will also further Condukt’s mission to transform know-your-business (KYB) processes and reframe compliance as a catalyst for growth, operational efficiency, and trust rather than simply a cost centre.

About Condukt

Condukt is building the future of Business Identity with seamless register connectivity that reduces costs, streamlines onboarding, and boosts customer conversion. Its real-time, intelligent compliance infrastructure empowers financial institutions and fintechs to verify businesses faster, operate more efficiently and deliver trustworthy, frictionless experiences.