Lending Infra Firm Knight Fintech Raises $23.6 Million in Series A Round Led by Accel

Introduction

Knight Fintech, a Mumbai-based provider of banking and lending infrastructure solutions, has secured $23.6 million in a Series A funding round led by early-stage venture capital firm Accel, marking a major milestone in its growth journey and validating investor confidence in fintech infrastructure plays. The round also saw participation from IIFL, Rocket Capital, Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital, lifting the company’s total funding to around $30 million to date.

Founded in 2019 by Kushal Rastogi and Parthesh Shah, Knight Fintech builds core technology platforms that connect banks, non-bank financial companies (NBFCs), fintechs, and platforms — enabling seamless co-lending, digital lending, embedded finance, treasury management, and more. The fresh capital will be deployed to strengthen product capabilities and support international expansion across the Asia Pacific and Gulf regions.

What Knight Fintech Does

Knight Fintech positions itself as a backend infrastructure provider — largely invisible to consumers — that enables financial institutions to originate, disburse, and manage credit at scale. Its technology stack includes modules for:

• Co-lending infrastructure that allows banks and large NBFCs to partner with other lenders to originate and share loans.
• Digital lending and embedded finance tools that help platforms integrate credit products smoothly.
• Treasury management systems that help organisations manage liquidity, risk, borrowings, and investments.
• AI-powered enhancements in risk assessment, automated underwriting, portfolio monitoring, and fraud detection.

The company’s platform currently supports over 150 organisations across 85 lenders, including marquee institutions such as Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp, NABARD, and NSDL Payments Bank. To date, Knight Fintech’s systems have facilitated more than $7 billion in cumulative loan disbursements and manage over $5 billion in active assets; its treasury platform oversees assets worth more than $125 billion.

Funding Round Details

The $23.6 million Series A round was led by Accel, one of the most respected venture firms globally, known for backing fintech infrastructure and SaaS innovators. Other participants included:

• IIFL, a leading financial services group
• Rocket Capital
• Prime Venture Partners
• 3One4 Capital
• Commerce VC
• Trifecta Capital

This infusion brings the startup’s total capital raised to approximately $30 million and positions the company for accelerated product development and geographic expansion.

Strategic Use of Capital

Knight Fintech plans to use the fresh funding to:

• Enhance AI-driven features such as risk intelligence, automated credit underwriting, advanced data analytics, portfolio monitoring and debt recovery systems.
• Expand internationally, with initial focus on the Middle East and Asia-Pacific markets, where digital lending and embedded finance adoption are rising rapidly.
• Continue building out its platform capabilities to support broader financial services needs across banking partners and fintech ecosystems.

The company has also strengthened its leadership and advisory bench, onboarding Sanat Rao — founder and managing director of WithinTheBox.ai — as an investor and board adviser to support its growth strategy.

Market Context and Competition

Knight Fintech operates in a fast-growing segment of the fintech ecosystem — lending and banking infrastructure — which has seen increasing demand as banks, NBFCs and digital lenders seek robust backend systems to compete with full-stack challengers. Its competitors include other infrastructure thrusts such as Perfios, Zeta, M2P Fintech, YAP, and CreditEnable, though Knight’s strong traction with traditional lenders and treasury management software has set it apart.

The Series A funding also reflects broader investor interest in platform-based fintech solutions that provide critical plumbing for digital finance — particularly those that incorporate AI capabilities and modular services tailored for scale.

Growth Outlook

Looking ahead, Knight Fintech aims to scale its annual revenues to the $85–100 million range over the next four years and expand assets under management significantly, building long-term financial infrastructure relationships across regions. Its product roadmap includes deeper AI integration, enhanced digital credit products, and new data-services offerings designed to improve risk insight, capital efficiency, and credit outcomes.

Conclusion

Knight Fintech’s successful $23.6 million Series A round led by Accel highlights both the strength of its business model and the growing appetite for fintech infrastructure solutions that bridge traditional finance and digital lenders. With strong backing, deep institutional partnerships, and ambitious international expansion plans, the company is poised to play a significant role in scaling lending and embedded finance technologies across key global markets in the coming years.

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