Latest news with #RiteshSinghania
Finextra
2 days ago
- Business
- Finextra
AI-led RegTech startup Zango raises $4.8 million
London-based Zango AI has raised $4.8 million to overhaul financial compliance systems with AI agents. 0 The funding round was led by Nexus Venture Partners, with addittional participation from 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. Already used by Novobanco in Portugal and UK and EU neobanks, including Monzo and Juni, Zango's regulation-aware AI agents continuously track regulatory updates, identify compliance gaps in real time, and keep firms audit-ready. The firm is training Large Language Models to transform compliance into a query-based operating systemm, answering questions like: 'I want to launch a lending product in [Y] market — what do I need to do?' Ritesh Singhania, co-founder of Zango, says: "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.' 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 which was acquired by Razorpay, and led trust and compliance engineering at PhonePe, which is gearing up for India's largest IPO. The funds raised will be used to expand teams in London & Bengaluru along with building out the other product modules for an AI-native GRC. Zango also intends to expand into other verticals of financial services as well outside of banking to insurance and asset management.
Entrepreneur
2 days ago
- Business
- Entrepreneur
Zango AI Raises USD 4.8 Mn Round Led by Nexus Venture Partners
The funding will be used to scale teams in Bengaluru and London, and to further develop Zango's AI-native Governance, Risk, and Compliance (GRC) product suite. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Regulatory compliance startup Zango AI has raised USD 4.8 million in a seed funding round led by Nexus Venture Partners, with participation from early backers South Park Commons, Richard Davies (CEO, Allica Bank), Alan Morgan (Senior Partner at McKinsey), Mark Ransford (Notion Capital), No Label Ventures, and Start Ventures. The funding will be used to scale teams in Bengaluru and London, and to further develop Zango's AI-native Governance, Risk, and Compliance (GRC) product suite. The company also plans to expand into adjacent verticals such as insurance and asset management, building on its success in banking. Founded in 2024 by second-time entrepreneurs Ritesh Singhania and Shashank Agarwal, Zango AI offers a regulatory compliance platform that combines AI-powered agents with human expertise to automate critical compliance functions like horizon scanning, gap analysis, and controls testing. The company operates out of San Francisco, London, and Bengaluru and is already used by major financial institutions including Novobanco, Monzo, and Juni. Zango's cloud-native platform leverages regulatory-domain-specific large language models to build intelligent agents that continuously track regulatory changes, flag compliance gaps in real time, and ensure institutions remain audit-ready — eliminating the need for manual reviews and spreadsheets. "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." Both founders bring deep domain experience: Singhania previously founded ClearGlass, a pension regulation platform, while Agarwal co-founded Third Watch, an AI fraud detection startup acquired by Razorpay. Anand Datta, Partner at Nexus Venture Partners, said, "The global regulatory landscape is ripe for disruption. Ritesh and Shashank bring a first-principles approach, uniquely marrying AI with compliance expertise. Zango is already augmenting compliance teams and boosting efficiency at global institutions."
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Business Standard
2 days ago
- Business
- Business Standard
Zango raises $4.8 mn to scale AI-native compliance tools, expand teams
Regulatory compliance startup Zango has raised $4.8 million in a seed round led by Nexus Venture Partners, with participation from South Park Commons — the company's first backer, where Zango was incubated — along with Richard Davies, CEO of Allica Bank; Alan Morgan, Senior Partner, Financial Services, at McKinsey (EMEA) and Chairman, Adfisco; Mark Ransford of Notion Capital; No Label Ventures; and Start Ventures. The funds raised will be used to expand teams in London and Bengaluru, and to build out additional product modules for an AI-native Governance, Risk and Compliance (GRC) solution. Zango also plans to extend its services beyond banking into other financial services verticals, such as insurance and asset management. '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 per cent 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 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, said the company. Zango was co-founded by Ritesh Singhania and Shashank Agarwal, both second-time founders with deep experience in regulatory technology. Singhania previously founded ClearGlass, a pension compliance platform, and served as Head of Technology at Simplitium (acquired by NASDAQ). Agarwal co-founded Third Watch, an AI-powered fraud detection startup (acquired by Razorpay, valued at over $7.5 billion), 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 first-hand, proven expertise, developed Zango's first-principles approach: uniquely marrying cutting-edge AI with human compliance expertise. Their AI-led solution is already augmenting compliance teams and increasing their efficiency at global financial institutions. We're incredibly excited to be part of their journey.'
Business Wire
2 days ago
- Business
- Business Wire
Zango AI Emerges From Stealth, Raising $4.8m to Revolutionise Financial Compliance Systems With AI Agents
LONDON--(BUSINESS WIRE)--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. Today, 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 compliance becomes as simple as a Google query: 'I want to launch a lending product in [Y] market — what do I need to do?' 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. "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. The funds raised will be used to expand teams in London & Bengaluru along with building out the other product modules for an AI-native GRC. Zango will expand into other verticals of financial services as well outside of banking to insurance and asset management. About Zango AI Zango is a regulatory compliance solution that leverages AI alongside trusted subject-matter experts to automate horizon scanning, gap analysis, and controls testing for global financial institutions. Founded in 2024 by experts in AI and financial regulation, the company operates globally with offices in London, San Francisco and Bengaluru. Zango is trusted by enterprise customers navigating complex regulatory environments across the UK, EU, and beyond. The platform is SOC 2 Type II and ISO 27001 certified, with security and scalability built in from the ground up. For more information, visit About Nexus Venture Partners Nexus Venture Partners is a leading early-stage venture capital firm partnering with extraordinary entrepreneurs building product-first companies. With $2.6 billion under management, Nexus operates as a unified team across the US and India. Nexus's portfolio includes Bolt, Postman, Daloopa, Fingerprint, Zepto, Iambic, Infra Market, MinIO, Pubmatic, Rapido, Rancher, Turtlemint, Uniqus and Delhivery.
