Zango announced raising $4.8 million led by Nexus Venture Partners with participants including 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.
Used by banks like Novobanco in Portugal and gaining traction with neo banks like Monzo and Juni, Zango simplifies financial compliance. Regulations are extensive and complex, resulting in slow and costly workflows. Zango’s solution utilizes regulation-specific Large Language Models (LLMs) to facilitate compliance queries, enabling faster and more confident product launches and market expansions.
For example, a regulatory workflow was reduced from 48 hours to under 4 using Zango’s AI agents, transforming compliance into an ongoing process rather than a snapshot. Traditional consultants’ approvals become outdated as businesses evolve, whereas Zango ensures continuous compliance.
Co-founded by Ritesh Singhania and Shashank Agarwal, the funds will grow teams in London & Bengaluru and develop additional AI-native GRC modules, expanding beyond banking into insurance and asset management.
KEY QUOTES:
“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.”
“We don’t sell a platform — we sell a solution. 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.”
Ritesh Singhania, Co-founder of Zango
“The global regulatory landscape is ripe for disruption. 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.”
Anand Datta, Partner at Nexus Venture Partners
“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.”
Lara Reis, Head of regulatory affairs, Novobanco
“For Horizon scanning, Zango is a game-changer. The platform’s current and future modules are set to revolutionize the second line of defense work in regulated industries like ours.”
Sabina Ausfelt, Head of compliance, Juni
