Knight FinTech raises $23.6 million Series A funding led by Accel

Knight Fintech, a banking infra company has raised $23.6 million in a Series A funding round led by Accel.

The round also saw participation from IIFL, Rocket Capital and existing investors Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital.

The startup plans to use the funds to improve its products. It also plans to expand overseas, aiming to enter markets in the Asia Pacific region and Gulf countries.

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“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,” founder 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.”

About Knight FinTech

Founded in 2019 by Kushal Rastogi, a former builder of AI-driven trading systems, and Parthesh Shah, Mumbai-based Knight FinTech builds core technology that connects banks, lenders, platforms, and borrowers, helping money move smoothly across the system. It has also created co-lending infrastructure that lets banks and large NBFCs lend together with other partners.

Its clients include Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp, and NABARD.

The platform supports more than 150 partnerships across 85 lenders and powers co-lending, digital lending, and embedded finance solutions. Knight FinTech also provides treasury management software to help firms manage liquidity, market risks, borrowings, and investments.

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According to the company, it has enabled over $7 billion in loan disbursements and manages more than $5 billion in active assets. Its treasury platform oversees assets worth over $125 billion, strengthening its role as a key financial infrastructure provider.

Over the next four years, the company plans to reach $85–100 million in annual revenue and grow assets under management to more than $50 billion.

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