Zango AI, a platform that helps companies follow rules and regulations, has raised $4.8 million (about ₹41 crore) in a seed funding round.
Nexus Venture Partners led the round, which included additional investments from South Park Commons, Notion Capital, No Label Ventures, and Start Ventures.
The company, based in Bengaluru and San Francisco, will use the money to expand its teams in Bengaluru and London. They will also use the funds to build new advanced features for their AI-based tools that help with governance, risk, and compliance.
Ritesh Singhania and Shashank Agarwal co-founded Zango. The company’s cloud-based system uses large language models focused on regulations to create smart tools that help automate and simplify repetitive compliance tasks.
Before starting Zango, Ritesh Singhania founded ClearGlass, a platform focused on pension regulations. Shashank Agarwal had built an AI-based fraud detection company called Third Watch, which was bought by Razorpay in 2019.
Zango is now expanding into new areas and plans to offer its services to insurance and asset management companies.
Financial institutions like Novobanco, Monzo, and Juni already use its platform to speed up regulatory tasks that normally take days, reducing them to just a few hours.
In India, Zango competes with companies like Yellow.ai, Haptik, and RevRag.ai, which also provide automation tools for banks and financial services.
Globally, Zango faces competition from firms like Sprinto, Vanta, and Drata, which specialise in automating compliance processes.
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