Condukt, an AI-driven compliance platform founded by former Revolut Business leaders Paulo Guichard and Bhasker Rao, has raised $10 million to expand into regulated financial services. The round was led by Lightspeed Venture Partners and MMC Ventures, with additional participation from Cocoa Ventures.

Based in London and Porto, Condukt brings together a team of engineers from Revolut and Meta. Launched in May 2023 and emerging from stealth, the company already supports compliance operations for major fintech players such as Wise, Tide, Mollie, Rakuten, Shift4, Flatpay, and myPOS.

Condukt’s platform introduces a real-time data infrastructure that continuously syncs with customers’ operations. Its agentic AI automates KYB and other compliance workflows, eliminating outdated datasets and reducing manual effort. CEO Guichard says the company’s goal is to turn compliance into a “growth enabler,” powered by an always-on system that adapts to business changes in real time.