Mumbai-based banking infrastructure startup Knight Fintech has raised $23.6 million in a Series A funding round led by Accel, with participation from IIFL and Rocket Capital.
The round also saw continued backing from existing investors Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital. With this infusion, Knight Fintech’s total capital raised now stands at $30 million.
The company said the fresh capital will be deployed to strengthen its product capabilities and support international expansion plans, with a focus on markets across Asia Pacific and the Gulf region.
Founded in 2019, Knight Fintech builds core banking and lending infrastructure that connects banks, NBFCs, platforms, and borrowers, enabling efficient capital flow across the financial ecosystem. Its product suite spans co-lending, digital lending, embedded finance, and treasury management.
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Knight Fintech’s co-lending technology allows banks and large NBFCs to partner with multiple financial institutions to originate, distribute, and manage loan portfolios at scale. The platform is currently used by institutions including Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp, and NABARD.
According to the company, it supports over 150 partnerships across 85 lenders and has facilitated more than $7 billion in loan disbursements to date. Its treasury management platform manages liquidity, risk, borrowings, and investments, with assets worth over $125 billion flowing through the system. Knight Fintech also manages more than $5 billion in active assets on its lending infrastructure.
Looking ahead, the company aims to scale its annual revenues to $85–100 million over the next four years and expand assets under management beyond $50 billion, driven by deeper penetration in India and overseas markets.
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