Latest news with #Zango
Time of India
2 days ago
- Business
- Time of India
RegTech startup Zango AI raises $4.8 million from Nexus Venture Partners, others
Regtech startup Zango AI has raised $4.8 million in a round led by Nexus Venture Partners to expand teams in Bengaluru and London and develop AI-native compliance tools. Founded in 2024, Zango uses regulation-specific LLMs to automate compliance tasks, serving clients like Novobanco, Monzo, and Juni. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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 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 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 startup claims its AI agents are capable of interpreting changing regulations and integrating compliance checks directly into daily operations of 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 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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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.'
Yahoo
2 days ago
- Business
- Yahoo
Zango AI Emerges From Stealth, Raising $4.8m to Revolutionise Financial Compliance Systems With AI Agents
LONDON, July 01, 2025--(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. View source version on Contacts Media Contact: Ben Goldsmithben@ +44(0)7788295321 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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.
