The journey from employee to entrepreneur is always fascinating, especially when innovation and impact align so seamlessly. Recently, a group of ex-Revolut employees raised a whopping $10 million to build Condukt, a compliance startup powered by artificial intelligence that promises to redefine how regulated industries tackle compliance. These are not just ordinary fundraisers; they are seasoned fintech experts who are reshaping the financial compliance landscape, and as a serial entrepreneur myself, I couldn’t help but reflect on how this achievement underscores crucial lessons for current and future founders.
Why Condukt Has Set the Industry Buzzing
Condukt aims to solve one of the biggest pain points in fintech: manual and outdated compliance workflows. Founded by former Revolut Business leaders Paulo Guichard and Bhasker Rao, the startup is taking compliance from being a cumbersome bottleneck into a streamlined, real-time process.
Their platform automates Know-Your-Business checks (KYB) by synchronizing compliance with businesses’ real-time data operations, powered by AI. What sets them apart is their ability to replace outdated datasets with automated workflows, which means fintech companies can onboard clients faster without compromising on legal compliance requirements. And judging by their clientele, which already includes forward-thinking fintech pioneers like Wise and Mollie, the market validation for their solution is unmistakable.
What really stands out to me is their bold positioning of compliance as a growth enabler instead of just a cost center. For founders and entrepreneurs looking to build scalable solutions, this is an incredible mindset shift to emulate.
The Numbers Speak Volumes
The $10 million raised in this funding round, led by Lightspeed Venture Partners and MMC Ventures, is more than just an impressive financial milestone; it’s a testament to the market potential of AI-driven compliance tech. With notable investors like Cocoa Ventures joining the list, there’s clear confidence in the growth trajectory of Condukt.
Let’s break this down:
- Global RegTech Market Size: The regulatory technology (RegTech) market is projected to reach $33 billion by 2026. This boom is fueled by the rising need for automating compliance tasks, especially for fintech and financial companies.
- Efficiency Metrics: It is estimated that AI automation of compliance could reduce manual effort for KYB by over 50%, allowing fintech players to focus on scaling their businesses.
- Early Customers’ Validation: Companies like Rakuten and Shift4 trust Condukt, this is a nod to their reliability and readiness to scale aggressively.
As someone who understands the bridge between raising capital and delivering on those promises, I see these benchmarks not just as wins for Condukt, but as critical indicators for anyone developing solutions that leverage cutting-edge technologies.
5 Lessons from Condukt's Journey: What Entrepreneurs Should Learn
-
Identify High-Stakes Problems That Scale Globally
Compliance is a universal challenge for regulated industries, what Condukt is solving isn’t regional but global. For entrepreneurs, this highlights the importance of picking a problem that transcends borders. -
Leverage Industry Experience to Your Advantage
The founders, formerly of Revolut, SumUp, and Square, bring firsthand knowledge of the pain points they’re solving. No amount of market research can beat building a solution for a problem you’ve truly lived. This is something I emphasize through my gamepreneurship methodology, which focuses on problem-first innovation. -
Build, Validate, Then Scale
Operating in stealth mode from May 2023 to November 2025, Condukt focused on perfecting its platform’s real-world functionality and refining its proprietary AI-driven systems before scaling. Founders often rush to market; take your time to win the confidence of early adopters instead. -
Position Your Product as a Necessity, Not a Luxury
Repositioning compliance from a bottleneck to a growth enabler wasn’t just smart branding, it’s a fundamental shift in how clients view the product. For your startup, always ask: How can I make this solution indispensable? -
Choose Investors That Understand Your Vision
Raising money is about far more than capital, it’s about relationships. Condukt aligned itself with seasoned venture firms who understand fintech and have a track record of investing in innovative ideas. Always work with investors who bring strategic value, not just cash.
Building Your Startup: A Quick Guide Inspired by Condukt
- Start with Expertise: Solve problems you deeply understand, like Guichard and Rao did with compliance based on their years at Revolut.
- Embrace ‘Smart Capital’: Instead of accepting funds from just anyone, target VCs or partners with industry knowledge.
- Define the Transformation: Like Condukt, be crystal clear about how your solution innovates and creates value for your target audience.
- Test Before Scaling: Use stealth mode, pilot projects, or limited releases to ensure your solution works in the real world.
- Position for Impact: Highlight your product’s ability to unlock growth, as Condukt did by turning compliance into a driver instead of a blocker.
Most Common Mistakes to Avoid as a Fintech Founder
1. Treating Compliance as an Afterthought
Ignoring regulatory challenges early on can result in costly, business-breaking mistakes. Start thinking about compliance right from the idea phase, even if it seems daunting.
2. Not Automating Early Enough
Manual processes don’t scale. Even if you’re starting small, build automation into your product from day one to save time and reduce human errors.
3. Limited Focus on Team Dynamics
Many fintech startups suffer from poor leadership dynamics. As seen in Condukt’s case, pulling together a team with complementary strengths (like operations, compliance, and AI expertise) made all the difference.
Bigger Picture: What Does the Future Hold?
The RegTech space is growing rapidly, and AI is not just an add-on; it’s the foundation of the next wave of compliance solutions. As fintech continues to push the boundaries of innovation, automated systems like Condukt’s platform will become the norm, not the exception. The startup’s proprietary real-time data infrastructure and intelligent agents signal a shift away from reactive compliance to predictive, seamless monitoring.
For anyone building within the regulated financial services sector, the message is clear: the world is ready for modern, scalable solutions, and timing is everything.
Conclusion: An Inspirational Playbook for Founders
As an entrepreneur and advocate for cross-disciplinary, scalable innovation, I can’t applaud Condukt enough for pushing the boundaries of what fintech founders can achieve. Their $10 million raise is not just a win for financial compliance, but it’s a win for every founder attempting to disrupt traditional systems.
Building a business that’s scalable, resilient, and views its service as essential is not just a goal, it should be your roadmap to success. For entrepreneurs, the takeaway is clear: tackle industry pain points with purpose, precision, and patience. Want to learn how to bring such transformative ideas to life? Let’s connect at Fe/male Switch, where we help gamepreneurs design viable, impactful startups, one solution at a time.
By looking at companies like Condukt, we as founders are reminded: the sky isn’t the limit; it's just the beginning.
FAQ
1. What is Condukt?
Condukt is an AI-powered compliance startup founded by former Revolut employees that aims to simplify and automate compliance workflows, focusing on real-time KYB (Know Your Business) checks. Discover Condukt
2. Who founded Condukt?
The startup was founded by Paulo Guichard and Bhasker Rao, former Revolut Business employees with prior experience at SumUp and Square. Learn about Condukt's founders
3. How much funding has Condukt raised?
Condukt raised $10 million in a funding round led by Lightspeed Venture Partners and MMC Ventures, with participation from Cocoa Ventures. Check the funding details
4. What problem does Condukt solve?
Condukt automates compliance processes, transforming them from manual bottlenecks into efficient, real-time workflows, enabling faster client onboarding for regulated industries. Learn more about Condukt's impact
5. Who are Condukt's early customers?
Well-known fintech companies like Wise, Tide, Mollie, Rakuten, Shift4, Flatpay, and myPOS are early adopters of Condukt's platform. Explore Condukt's clientele
6. How does Condukt's platform work?
Condukt utilizes a proprietary real-time data infrastructure synchronized with clients' operations, automating compliance workflows and replacing outdated datasets. Learn about Condukt’s technology
7. Why is Condukt important for fintech companies?
Condukt enables fintech companies to expedite client onboarding, reduce operational costs via automation, and transform compliance from a cost center into a growth enabler. Discover why fintech trusts Condukt
8. Where is Condukt based?
The startup operates out of London, UK, and Porto, Portugal, with a team comprising former engineers from Revolut and Meta. Read about Condukt's global presence
9. How does Condukt redefine compliance?
By leveraging AI agents and real-time data monitoring, Condukt provides continuous compliance solutions that adapt to organizational changes instantly. See more on Condukt's innovation
10. Who are the leading investors backing Condukt?
The funding round is led by Lightspeed Venture Partners and MMC Ventures, known for their expertise in fintech and innovative technologies. Read about Condukt's investors
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
