Regulatory tech startup Zango AI raises $4.8 million led by Nexus VP, others

Regulatory tech startup Zango AI has raised $4.8 million in a funding round led by Nexus Venture Partners, a global venture capital firm with over $2.6 billion capital under management. 

The round also saw participation from 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.

Founded in 2024 by serial entrepreneurs Ritesh Singhania and Shashank Agarwal, Zango is developing regulation-specific large language models (LLMs) to automate horizon scanning, gap analysis, and audit preparedness. The firm’s software integrates these AI agents directly into an institution’s operational workflows, transforming compliance from a static, manual process into a dynamic, real-time system.

“Traditional SaaS stops at KYC and AML,” said Singhania, who previously founded the pension compliance platform ClearGlass. “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 claims that its tools are already being used by Novobanco, Portugal’s fourth-largest bank, and neo banks such as Monzo in the UK and Juni in the EU.

"We don’t sell a platform — we sell a solution," said Singhania. "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.”

Agarwal, who co-founded fraud detection startup Third Watch (acquired by Razorpay) and previously led trust and compliance engineering at PhonePe, brings deep expertise in applied AI within regulated environments.

The funding will be used to expand Zango’s teams in London and Bengaluru and to broaden its product suite across financial services verticals, including insurance and asset management. The startup also plans to build out additional modules for its AI-native governance, risk, and compliance (GRC) platform.

"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."