Knight FinTech Raises USD 23.6 Mn in Series A Funding Led by Accel The Mumbai-based company aims to use the fresh funds to enhance its AI-based offerings, including risk assessment, credit underwriting, fraud detection, portfolio tracking and debt recovery, while expanding into the Middle East and Asia-Pacific markets.
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Knight FinTech, a banking and digital lending infrastructure company, has raised USD 23.6 million in a Series A funding round led by Accel.
Other participants in the round include IIFL and Rocket Capital, along with existing investors Prime Venture Partners, 3one4 Capital, Commerce VC and Trifecta Capital. According to media reports, the funding was completed in multiple tranches.
Founded in Mumbai in 2019 by Kushal Rastogi and Parthesh Shah, Knight FinTech provides technology platforms that enable co-lending, digital lending, embedded finance, supply chain finance and treasury management. The company works with banks, non-banking financial companies (NBFCs) and fintech firms, aiming to improve the flow of capital and make lending operations more efficient.
Knight FinTech positions itself as a bridge between surplus capital held by banks and the loan demand generated by fintechs and NBFCs. Through its digital infrastructure, the firm seeks to reduce operational friction, manage risk and help lenders access new revenue opportunities.
The company said it currently partners with more than 150 organisations across 85 lenders. It has facilitated cumulative loan disbursements exceeding USD 7 billion and manages over USD 5 billion in assets under management. Its treasury platform, according to the company, oversees assets worth more than USD 125 billion.
Knight FinTech plans to use the fresh capital to strengthen its AI–driven products. These include tools for risk intelligence, automated credit underwriting, fraud detection, portfolio monitoring and debt recovery. The company also intends to expand its presence beyond India, targeting markets in the Middle East and Asia-Pacific region.
As part of its global expansion strategy, Knight FinTech has brought on Sanat Rao, former global CEO of Infosys Finacle, as an investor and board adviser.
The company earns revenue through software licensing, implementation fees and recurring charges linked to assets under management, and employs over 350 people.
Knight FinTech competes with other lending and banking infrastructure players such as Perfios, Zeta, M2P Fintech, YAP, and CreditEnable.
