Regulatory tech startup Zango AI has secured $4.8 million in a funding round led by Nexus Venture Partners. Other investors include South Park Commons, Richard Davies (CEO of Allica Bank), and McKinsey’s Alan Morgan. Founded in 2024 by Ritesh Singhania and Shashank Agarwal, Zango uses AI to automate compliance tasks for financial institutions. The fresh capital will fuel team expansion in Bengaluru and London. That’s accelerating the development of its AI-native governance, risk, and compliance (GRC) solutions. Zango’s platform, already in use at Novobanco, Monzo, and Juni, aims to redefine how institutions manage regulatory burdens.
AI-Native Compliance Tools Aim to Replace Spreadsheets and Consultants
Zango AI is tackling one of the most persistent pain points in financial services: regulatory overload. Using regulation-specific large language models (LLMs), the startup has developed AI agents. That automates complex compliance workflows, such as horizon scanning, audit preparation, and gap analysis. These are typically done through spreadsheets or third-party consultants. The key differentiation? Zango blends AI autonomy with a “human-in-the-loop” approach to ensure audit-grade accuracy. “Peace of mind doesn’t come from a tool; it comes from a result,” co-founder Ritesh Singhania said, underscoring that their product competes with consultants not by being cheaper, but by delivering better results faster.
Portugal’s Novobanco and fintech companies like Monzo and Juni have already deployed the startup’s tools. The ability to incorporate compliance checks with its daily operations allows Zango to save on the time and effort needed to comply with constantly changing international compliance policies. Its AI plug-and-play modules boast of high operational efficiencies, an aspect that banks, insurers, and asset managers are looking forward to getting a leaner compliance practice. Zango’s next move includes expanding into adjacent verticals like insurance and asset management as it scales across Europe and beyond. The company believes regulatory tech is ripe for an AI-powered overhaul, and they’re betting big on becoming the platform of record.
Founders Bring Deep Fintech and Compliance Credentials to Zango’s Mission
Zango AI’s credibility is rooted in its co-founders’ track records. Ritesh Singhania previously built ClearGlass, a pension tech compliance platform, and led technology at Simplitium, a financial services software provider. Co-founder Shashank Agarwal is equally seasoned; he co-founded Third Watch, a fraud detection startup that Razorpay acquired, and later led trust and compliance engineering at PhonePe, one of India’s leading digital payment platforms. Their combined experience gives Zango a strategic edge in understanding both the technical and regulatory complexities that financial institutions face. Rather than retrofitting existing workflows with generic large language models, Zango is developing custom models trained specifically on financial regulations.
This “first-principles” approach, as Nexus Venture Partners described it, ensures the product isn’t just AI-driven; it’s regulation-native. According to lead investor Anand Datta, Zango’s strength lies in blending cutting-edge AI with deep domain knowledge. “Ritesh and Shashank have built a product that doesn’t just speed up compliance; it reshapes how teams operate,” Datta said. As global regulators increase scrutiny and new mandates explode, Zango envisions a simple approach: automate what should be automated, guide what needs oversight, and eliminate redundant complexity. It’s a pitch that’s already resonating across Europe’s fintech and banking landscape.
Zango AI Eyes Global Expansion in a Heavily Regulated Future
With $4.8 million in fresh capital and a growing client base, Zango AI is positioned to scale rapidly across global financial markets. The startup plans to deepen its presence in London and Bengaluru. While expanding its product suite into insurance and asset management. As regulatory burdens increase and compliance costs rise, financial institutions are turning to AI-native tools for operational relief. Zango’s hybrid model of AI agents plus human oversight aims to deliver both speed and trust. With a regulatory storm on the horizon, Zango is betting that intelligent automation, not just software, is the future of global compliance.
About The Author
