Knight FinTech, an Indian banking and digital lending infrastructure provider, has raised $23.6 million in a Series A funding round led by Accel. Additionally, IIFL and Rocket Capital participated in the round, while existing investors Prime Venture Partners, 3one4 Capital, Commerce VC, and Trifecta Capital also backed the company. Notably, the company completed the fundraise through multiple tranches.
Based in Mumbai, Knight FinTech provides technology platforms that enable co-lending, digital lending, embedded finance, and treasury management for banks and non-bank lenders. Currently, the company works with more than 150 partners across 85 lenders. Moreover, it has facilitated over $7 billion in cumulative loan disbursements and manages more than $5 billion in assets under management. Meanwhile, its treasury platform manages assets worth over $125 billion.
With the fresh capital, Knight FinTech plans to expand its AI-driven product offerings. Specifically, the company will strengthen capabilities across risk intelligence, automated credit underwriting, fraud detection, portfolio monitoring, and debt recovery systems. At the same time, the firm intends to expand into the Middle East and Asia-Pacific markets.
As part of this international push, Knight FinTech has appointed former Infosys Finacle global chief executive officer Sanat Rao as an investor and board adviser. Through this appointment, the company aims to benefit from deep global banking and technology expertise.
Kushal Rastogi and Parthesh Shah founded Knight FinTech. Previously, Rastogi built AI-driven trading systems, while Shah 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 a 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. Currently, the company employs more than 350 people.
