Knight FinTech raises $23.6m series A led by Accel

By Vriti Gothi

Knight FinTech, an Indian banking and digital lending infrastructure provider, has raised $23.6 million in a Series A funding round led by Accel, as capital continues to flow into platforms supporting regulated digital credit and embedded finance.

The round also included participation from IIFL and Rocket Capital, alongside existing investors Prime Venture Partners, 3one4 Capital, Commerce VC and Trifecta Capital. The company said the fundraising was completed across multiple tranches.

Founded in Mumbai, Knight FinTech builds technology platforms for banks and non-bank lenders across co-lending, digital lending, embedded finance and treasury management. The company said it works with more than 150 partners across 85 lenders and has facilitated over $7 billion in cumulative loan disbursements, with assets under management exceeding $5 billion. Its treasury platform manages more than $125 billion in assets.

The funding comes amid growing demand from financial institutions for infrastructure that enables compliant credit distribution, risk sharing and balance sheet optimisation, particularly as co-lending and embedded finance models scale in India and other emerging markets.

Knight FinTech said the new capital will be used to expand its AI-driven product suite, including risk intelligence, automated credit underwriting, fraud detection, portfolio monitoring and debt recovery systems. The company also plans to enter markets in the Middle East and Asia-Pacific, reflecting a broader push by Indian FinTech infrastructure firms to serve global banks and lenders.

As part of its international expansion, the company has appointed former Infosys Finacle global chief executive officer Sanat Rao as an investor and board adviser.

“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,” said Kushal Rastogi, co-founder, KnightFinTech. “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 was founded by Rastogi, who previously built AI-driven trading systems, and Parthesh Shah, a former financial services professional at Bloomberg Singapore and Deloitte. The company generates revenue through software licensing, implementation fees and recurring charges linked to assets under management, and employs more than 350 people.