Zango raises $4.8M in funding led by Nexus Venture Partners

AI compliance startup Zango on Tuesday said it raised $4.8 million in a seed funding round led by Nexus Venture Partners, with participation from South Park Commons.

Other participating angel investors include Richard Davies (CEO, Allica Bank), Alan Morgan (Senior Partner, McKinsey EMEA), Mark Ransford (Notion Capital), No Label Ventures, and Start Ventures.

The Bengaluru startup will use the funds to grow its team and expand its product suite for AI-native Governance, Risk, and Compliance (GRC). The firm also plans to expand its presence across financial services, extending beyond banking into insurance and asset management.

"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," said Anand Datta, Partner at Nexus Venture Partners.

Founded by Ritesh Singhania and Shashank Agarwal in 2024, Zango is a regulatory compliance firm that uses AI, along with subject-matter experts, to automate horizon scanning, gap analysis, and controls testing for global financial institutions. 

At present, the AI startup operates globally with offices in London and San Francisco. 

One of its core offerings includes deploying regulation-aware AI agents that continuously monitor regulatory updates, detect compliance gaps in real time, and assist firms in remaining audit-ready by eliminating reliance on spreadsheets and manual reviews.

"We don’t sell a platform—we sell a solution. 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,” said Ritesh Singhania, Co-founder of Zango. 

Some of Zango's clientele include Novobanco, the fourth-largest bank in Portugal. It's also gaining traction with neobanks in Europe and the UK, including Monzo and Juni.

Previously, Ritesh had founded ClearGlass, a platform focused on pension compliance. He also served as the head of technology at Simplitium, later acquired by Nasdaq. Shashank co-founded Third Watch, an AI-based fraud detection startup acquired by Razorpay, and later led trust and compliance engineering at PhonePe.