Banking infrastructure startup Knight FinTech has raised $23.6 million in a funding round led by Accel, with participation from IIFL and Rocket Capital. Existing investors Prime Venture Partners, 3One4 Capital, Commerce VC and Trifecta Capital also participated. With this round, Knight FinTech’s total funding has reached $30 million.
Use of Capital
The company said the fresh capital will be used to strengthen its product capabilities and fund international expansion. Knight FinTech plans to enter new markets across the Asia Pacific region and the Gulf, as it looks to scale its banking infrastructure offerings beyond India.
Founders and Company Background
Knight FinTech was founded in 2019 in Mumbai by Kushal Rastogi, who serves as Founder, Chief Executive Officer and Chief Technology Officer, along with Parthesh Shah, Co-Founder and Chief Business Officer. The company builds core technology infrastructure that connects banks, lenders, platforms and borrowers, enabling efficient capital flow across the financial ecosystem.
Product Suite and Capabilities
The startup operates products spanning co-lending, digital lending, embedded finance and treasury management. Its co-lending stack enables banks and large non-banking financial companies to partner with other institutions to originate, distribute and manage loans at scale. Its treasury management platform supports liquidity management, risk monitoring, borrowings and investment operations.
Institutional Client Base
Knight FinTech works with financial institutions such as Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp and NABARD. The company currently supports over 150 partnerships across 85 lenders.
Operating Metrics
According to the company, its platform has facilitated more than $7 billion in loan disbursements and manages over $5 billion in active assets. Its treasury management software oversees assets worth more than $125 billion.
Growth Outlook
Over the next four years, Knight FinTech aims to scale annual revenues to $85–100 million and expand assets under management beyond $50 billion, reflecting its ambition to build a global banking infrastructure platform.
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