Knight FinTech raises $23.6M Series A led by Accel
The round also saw participation from IIFL and Rocket Capital, along with existing investors Prime Venture Partners, 3one4 Capital, Commerce VC and Trifecta Capital.
Knight FinTech, an Indian banking and digital lending infrastructure provider, has raised $23.6 million in a Series A funding round led by Accel.
The round also saw participation from IIFL and Rocket Capital, along with existing investors Prime Venture Partners, 3one4 Capital, Commerce VC and Trifecta Capital. The fundraise was completed through multiple tranches, according to the company.
The Mumbai-based firm provides technology platforms that support co-lending, digital lending, embedded finance and treasury management for banks and non-bank lenders. Knight FinTech said it currently works with more than 150 partners across 85 lenders and has facilitated over $7 billion in cumulative loan disbursements, with more than $5 billion in assets under management. Its treasury platform manages over $125 billion in assets, it said.
The new capital will be used to expand the company’s AI-driven product offerings, including risk intelligence, automated credit underwriting, fraud detection, portfolio monitoring and debt recovery systems, Knight FinTech said. The company also plans to expand into the Middle East and Asia-Pacific markets.
As part of its international expansion, Knight FinTech has appointed former Infosys Finacle global chief executive officer Sanat Rao as an investor and board adviser.
The company was founded by Kushal Rastogi, a former builder of AI-driven trading systems, and Parthesh Shah, who previously worked in financial services roles at Bloomberg Singapore and Deloitte.
“We chose to keep innovation and client obsession at the centrepiece, while building business with strong unit economics, market resilience, reliable systems, and long-term valued partnerships,” Kushal Rastogi, said in a statement. “Knight FinTech is a multi-engine platform. Co-lending and Treasury are already operating at meaningful scale, while Embedded finance and Digital lending are accelerating rapidly.”
Knight FinTech generates revenue through software licensing, implementation fees and recurring charges linked to assets under management. The company employs more than 350 people.