Sphinx Raises $7.1M Seed Funding

Sphinx, a company specializing in browser-native compliance agents for financial institutions, has successfully raised $7.1 million in a seed funding round. The round was led by Cherry Ventures, with significant participation from Y Combinator, Rebel Fund, Deel Ventures, and Singularity Capital. This funding will be utilized to expand Sphinx's agentic compliance workforce, which automates core Anti-Money Laundering (AML), Know Your Customer (KYC), and Know Your Business (KYB) operations for banks and fintechs. Sphinx's technology integrates directly into existing systems, eliminating the need for new software adoption and enabling rapid deployment. The company's agents have already processed millions of alerts and hundreds of thousands of cases, significantly reducing manual review work and operational costs for customers like Equals Money. Co-founders Alexandre Berkovic and Chrisjan Wüst, with backgrounds in AI research and AML infrastructure, aim to tackle the over $200 billion spent annually on compliance teams.