RegTech startup Zango AI raises $4.8 million from Nexus Venture Partners, others
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Regulatory tech startup Zango AI has raised $4.8 million in a funding round led by Nexus Venture Partners The round also saw early backer South Park Commons participate, along with angel investors such as Richard Davies, CEO of Allica Bank, and Alan Morgan, senior partner, financial services, at McKinsey, among others.The fresh capital will be used to scale up the company's teams in Bengaluru and London, and to build out other product modules for AI-native governance risk and compliance solutions, the company said. Zango is also expanding its product suite into other financial services verticals, including insurance and asset management.Founded in 2024 by Ritesh Singhania and Shashank Agarwal , Zango aims to modernise how financial institutions manage regulatory requirements. It uses regulation-specific large language models (LLMs) to automate tasks such as horizon scanning, gap analysis, and audit preparation, which are traditionally handled through manual reviews and spreadsheet-heavy workflows.The startup claims its AI agents are capable of interpreting changing regulations and integrating compliance checks directly into daily operations of the companies.The company's tools are currently used by Portugal's Novobanco and fintech companies such as Monzo and Juni."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,' said Singhania.Singhania previously founded ClearGlass, a pension compliance platform, and served as head of technology at financial services technology provider Simplitium. Agarwal co-founded Third Watch, a fraud detection startup, which was acquired by digital payments company Razorpay. He also led trust and compliance engineering at IPO-bound fintech PhonePe."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 efficiency at global financial institutions.'
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