Sphinx, a San Francisco, CA-based company building browser-native compliance agents for financial institutions, has raised a $7.1 million in a Seed funding round led by Cherry Ventures.
The round also saw participation from Y Combinator, Rebel Fund, Deel Ventures, and Singularity Capital.
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The company plans to use the funds to grow its agent-based compliance workforce as banks and fintechs increasingly depend on it for AML, KYC, and KYB operations.
Sphinx, which builds browser-based compliance agents for financial institutions, has used its browser-native design to operate globally from the start. It adapts to workflows and regulations across more than a dozen regions. Customers—including banks, public companies, and growing fintechs—use Sphinx to cut manual review work, reduce backlogs, and scale operations without adding more analysts.
Unlike traditional RegTech software, Sphinx doesn’t require teams to use a new system. Its agents work directly within the tools institutions already use—like case management systems, third-party portals, PDFs, email, and internal dashboards—performing tasks that a human compliance analyst would. They review alerts, run AML and KYB checks, gather research, draft RFIs, and record their reasoning in a complete, regulator-ready audit trail. Teams can usually start using Sphinx in days, without any integrations or system changes.
In real-world use, Sphinx agents have processed millions of alerts and hundreds of thousands of cases, clearing backlogs that used to take months in just days. Customers report far fewer manual reviews, faster onboarding, and much lower risk of compliance errors and fines. For example, Equals Money cut false positives by 94% while increasing true positives, and several institutions now operate internationally without adding compliance staff, reducing operational costs by up to 4 times.
Sphinx reflects the expertise of its founders, Alexandre Berkovic and Chrisjan Wüst, and the team they’ve assembled. Chrisjan built AML and onboarding systems for over 15 million users as the first employee at RelyComply, while Alex focused on AI research at Imperial College London and MIT. This is their second company together after a prior exit. The early team includes former operators, PhDs, and compliance officers from global banks.
Sphinx aims to address the $200B+ spent annually on compliance teams and outsourced review services performing work that traditional software wasn’t designed for. Institutions don’t need another dashboard—they need the work actually done.
Sphinx agents have processed millions of alerts and hundreds of thousands of cases, clearing backlogs that used to take months in just days and reducing operational costs by up to four times.
“Today, compliance is mostly manual work connecting systems that weren’t built to work together,” said Alexandre Berkovic, Co-Founder and CEO of Sphinx. “Sphinx handles that work automatically, letting analysts focus on judgment calls while giving institutions a complete, defensible record of every decision.”
“Sphinx isn’t just software—it’s essential operational infrastructure that works within teams’ existing systems, processes, and daily workflows,” said Filip Dames, Founding Partner at Cherry Ventures. “Few products can handle that level of complexity, which is why banks and fintechs are adopting it so quickly.”
About Sphinx
Founded by CEO Alexandre Berkovic, Sphinx creates customizable, browser-based intelligent agents that run on existing systems to automate compliance end-to-end with no engineering required. Every decision is logged and explainable, making automated compliance auditable, scalable, and insurable. Sphinx helps large banks, global fintechs, and neobanks cut manual reviews, lower operational risk, and expand quickly and compliantly into new markets.
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