London-based Zango AI has secured $4.8 million to revamp financial compliance systems using AI agents.
The funding round was led by Nexus Venture Partners, with additional participation from South Park Commons, Richard Davies, CEO of Allica Bank, Alan Morgan, former head of Financial Services at McKinsey (EMEA), Mark Ransford of Notion Capital, No Label Ventures, and Start Ventures.
Zango’s regulation-aware AI agents are already utilized by Novobanco in Portugal and various UK and EU neobanks, such as Monzo and Juni. These agents continuously monitor regulatory updates, identify compliance gaps in real-time, and ensure firms remain audit-ready.
The company is training Large Language Models to transform compliance into a query-based operating system, allowing users to ask questions like, “I want to launch a lending product in [Y] market — what do I need to do?”
Co-founder Ritesh Singhania states, “Our AI agents are paired with humans-in-the-loop to ensure 100% accuracy. Peace of mind doesn’t come from a tool; it comes from a result. That’s why we excel against consultants — because we don’t merely sell software, and neither do they.”
Singhania previously founded ClearGlass, a pension compliance platform, and served as head of technology at Simplitium, which was acquired by Nasdaq. Fellow co-founder Shashank Agarwal co-founded Third Watch, an AI-powered fraud detection startup acquired by Razorpay, and led trust and compliance engineering at PhonePe, which is preparing for India’s largest IPO.
The funds raised will be used to expand teams in London and Bengaluru, as well as to develop additional product modules for an AI-native Governance, Risk, and Compliance (GRC) system. Zango also plans to extend its reach beyond banking into other areas of financial services, including insurance and asset management.