Knight FinTech raises $23.6M in Series A funding to expand AI-driven lending, co-lending, and embedded finance platforms for banks and financial institutions.
Knight FinTech, a Mumbai-based financial technology company, has raised $23.6 million in a Series A funding round, the company announced. The round was led by Accel, with participation from IIFL, Rocket Capital, and existing investors Prime Venture Partners and 3one4 Capital. The investment was completed in multiple tranches.
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Founded by Kushal Rastogi and Parthesh Shah, Knight FinTech provides backend infrastructure for co-lending, digital lending, embedded finance, and treasury operations used by banks and non-bank financial institutions. The company focuses on enterprise financial systems rather than direct-to-consumer products.
Knight FinTech currently works with more than 150 partners and 85 lenders, supporting over $7 billion in cumulative loan disbursements. Its lending platforms manage more than $5 billion in assets, while its treasury management system oversees approximately $125 billion in assets, according to the company.
The newly raised capital will be used to expand the company’s AI-driven capabilities, including risk analytics, automated credit underwriting, fraud detection, and debt recovery tools. These products are designed to support lenders as loan volumes increase and regulatory requirements evolve.
Knight FinTech is also preparing for expansion into international markets, including the Middle East and Asia-Pacific regions. As part of this strategy, the company has appointed Sanat Rao, former global CEO of Infosys Finacle, as an investor and board adviser to support partnerships with larger financial institutions and regulatory navigation.
Rastogi previously worked on AI-based trading systems, while Shah has professional experience at Bloomberg Singapore and Deloitte. The company operates a revenue model based on software licensing, implementation fees, and recurring charges linked to assets under management.
Knight FinTech employs over 350 people, with teams dedicated to product development, compliance, and platform scalability.
Why Knight FinTech Matters to MENA
Knight FinTech’s Series A funding highlights a growing opportunity for the MENA region, where digital lending and embedded finance are expanding but remain uneven across markets. Many banks and non-bank financial institutions in the MENA region still rely on fragmented legacy systems, which slow down credit decisions and limit access for SMEs and underbanked consumers.
