A pair of Revolut alumni have secured $10 million in funding for their startup Condukt, which is emerging from stealth to tackle the notoriously expensive and inefficient world of financial compliance. The round, led by Lightspeed Venture Partners and MMC Ventures, is a significant bet that AI agents can transform the industry’s archaic “know-your-business” (KYB) processes from a costly bottleneck into a real-time, automated asset.
Condukt’s proposition is simple but ambitious: replace static, periodic compliance checks with a perpetual, always-on monitoring system. For decades, financial institutions have relied on manual reviews and outdated datasets to verify their business customers, a process that is both labor-intensive and increasingly ineffective. This old model creates a snapshot in time, leaving banks and fintechs blind to risk changes that happen between checks.
This blindness is becoming an existential threat. According to a recent Forrester report cited by the company, businesses spend a staggering $206 billion annually on financial crime compliance, with labor costs being the primary driver. Meanwhile, regulators are losing patience. In 2025 alone, anti-money laundering (AML) penalties surpassed $6 billion by July, signaling a new era of intense scrutiny.
“Compliance should be a growth enabler, not a bottleneck,” said Paulo Guichard, Condukt’s co-founder and CEO, in a statement. “We designed Condukt as an always-on nervous system that lives and breathes real-time data.”
From snapshots to a live feed
Condukt’s platform introduces what it calls a proprietary real-time data layer that syncs continuously with a client’s operations. On top of this layer, it deploys AI agents to automate workflows, monitor for changes, and effectively provide constant oversight. The goal is to move the industry from a reactive, check-the-box exercise to a proactive, continuous state of compliance.
