Zango AI Has Secured $4.8 Mn From Nexus Venture Partners

Zango AI, a business in the regulatory technology space, has raised $4.8 million in a fundraising round headed by Nexus Venture Partners.

Summary:

1. Zango AI, a regulatory technology startup, has raised $4.8 million in a funding round led by Nexus Venture Partners.

2. The company, founded in 2024 by Ritesh Singhania and Shashank Agarwal, aims to modify how financial institutions meet regulatory requirements by employing regulation-specific large language models (LLMs) to automate operations like horizon scanning, gap analysis, and audit preparation.

3. The AI bots can read new legislation and integrate compliance checks into organizations’ daily operations. Zango’s products are currently employed by Portugal’s Novobanco, Monzo, and Juni.

Early backer South Park Commons participated in the round, as did angel investors like Richard Davies, CEO of Allica Bank, and Alan Morgan, senior partner, financial services, at McKinsey, among others.

According to this latest startup news, Zango is also diversifying its product offerings into other financial services verticals, such as insurance and asset management.

Zango, founded in 2024 by Ritesh Singhania and Shashank Agarwal, seeks to modify how financial institutions meet regulatory requirements. It employs regulation-specific large language models (LLMs) to automate operations like as horizon scanning, gap analysis, and audit preparation, which were previously done manually and through spreadsheet-intensive procedures.

The new startup funding will be used to expand the firm’s workforce in Bengaluru and London, as well as to develop more product modules for AI-native governance, risk, and compliance solutions, according to the company.

The business says that its AI bots can read new legislation and integrate compliance checks into organisations’ daily operations.

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The company’s products are presently employed by Portugal’s Novobanco as well as fintech companies Monzo and Juni.

“Our AI agents work closely with humans in the loop to ensure complete accuracy. Peace of mind does not come from a tool, but from a result.

That’s why we win against consultants: they don’t only sell software, and neither do we,” Singhania explained.

According to this latest startup news, Singhania previously founded ClearGlass, a pension adherence platform, and worked as the head of technology at Simplitium, a financial services technology vendor. Agarwal co-founded Third Watch, a fraud detection firm that was acquired by Razorpay, a digital payment provider. He was also in charge of trust and compliance engineering at finance startup PhonePe, which is about to go public.

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How Zango AI Was Developed?

“The global regulatory landscape is ripe for disruption,” said Anand Datta, partner at Nexus Venture Partners. “Ritesh and Shashank, with their firsthand, proven expertise, created Zango’s first-principles methodology, which combines cutting-edge AI with human compliance expertise. Their AI-powered solution is already improving compliance teams and increasing efficiency at global financial institutions.”

Zango is a regulatory compliance system that uses AI alongside qualified subject matter experts to automate horizon scanning, gap analysis, and controls testing for global financial institutions.

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The funds will be used to extend the platform’s hybrid supply chain, improve product-market fit, enter new markets, and build collaborations with major fashion brands.

The platform’s novel ‘home trial’ function allows clients to try on multiple sizes and return what doesn’t fit, bringing the fitting room to their door.

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