London-based Zango has raised $4.8m, in a round led by Nexus Venture Partners, a leading global venture capital firm with over $2.6 billion capital under management. Other participants in the latest round include South Park Commons, Richard Davies, CEO of Allica Bank, Alan Morgan, former head of Financial Services at McKinsey (EMEA), Mark Ransford, Notion Capital, No Label Ventures and Start Ventures.
Ritesh Singhania, Co-founder of Zango says, “Traditional SaaS stops at KYC and AML, leaving the rest of compliance buried in spreadsheets and manual reviews. Zango changes that. Our regulation-aware AI agents continuously track regulatory updates (horizon scanning), identify compliance gaps in real time, and keep firms audit-ready — no operational drag, no surprises.”
Zango is actively used by established banks such as Novobanco, the fourth-largest bank in Portugal, and is gaining traction with leading neo banks in the EU and UK, including Monzo and Juni.
Financial services regulations stretch across tens of thousands of pages, creating slow, manual workflows and significant costs for businesses striving to stay compliant. Zango addresses this critical challenge by transforming regulatory complexity into a clear list of requirements. Its innovative solution is training regulation-specific Large Language Models (LLMs) to make compliance as intuitive as a simple query, enabling businesses to launch new products and expand into new markets with unprecedented speed and confidence, helping compliance be a growth centre rather than just a cost centre.
With Zango.ai, compliance becomes as simple as a Google query: “I want to launch a lending product in [Y] market — what do I need to do?”
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Zango’s AI agents don’t just read and interpret regulations with a high degree of accuracy — they integrate into a company’s day-to-day operations. In one example, a workflow with one of the banks involving the regulator was reduced from 48 hours to under 4 hours, showcasing the power of AI in regulated environments. Compliance becomes a continuous, always-on process rather than a one-time checklist. Traditional consultants give you a green light at a moment in time. But fast-growing businesses change quickly. Six months later, that “green light” is irrelevant — and by the time a regulator shows up, you could be out of bounds.
“We don’t sell a platform — we sell a solution,” said Ritesh Singhania, Co-founder of Zango. “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 win against consultants — because they don’t just sell software, and neither do we.”
Zango was co-founded by Ritesh Singhania and Shashank Agarwal, both second-time founders with deep experience in regulatory technology. Ritesh previously founded ClearGlass, a pension compliance platform, and served as Head of Technology at Simplitium (acquired by NASDAQ). Shashank co-founded Third Watch, an AI-powered fraud detection startup (acquired by Razorpay, valued at $7.5bn+), and led trust and compliance engineering at PhonePe, which is gearing up for India’s largest IPO.
“The global regulatory landscape is ripe for disruption,” said Anand Datta, Partner at Nexus Venture Partners. “Ritesh and Shashank, with their firsthand, proven expertise, developed Zango’s first-principles approach: uniquely marrying cutting-edge AI with human compliance expertise. Their AI-led solution is already augmenting the compliance team and increasing their efficiency at global financial institutions. We’re incredibly excited to be part of their journey.”
“We are thrilled with how Zango AI has transformed our compliance processes, saving us hundreds of hours of manual repetitive work and allowing our team to focus on strategic initiatives,” said Lara Reis, Head of regulatory affairs, Novobanco.
Source: Businesswire