The $23.6 million (₹215 crore) Series A round was led by Accel, with participation from IIFL and Rocket Capital, alongside continued backing from Prime Venture Partners, 3one4 Capital, Trifecta Capital and Commerce VC. Following the fundraise, Knight FinTech said it has crossed the $30 million funding mark and is claiming to be India’s first ‘soonicorn’ of 2026.
Founded in 2019 by Kushal Rastogi, Knight FinTech provides AI-first infrastructure that enables banks, NBFCs and financial platforms to operate and scale co-lending, digital lending, embedded finance and treasury systems. The company operates largely behind the scenes, powering credit workflows, risk assessment and capital deployment for financial institutions.
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According to the company, Knight FinTech currently supports 150+ partnerships across 85 lenders, facilitating credit across retail, MSME and agriculture segments. It said it has enabled over $7 billion in cumulative disbursements, manages more than $5 billion in active assets under management (AUM), and continues to add close to $1 billion in disbursements every quarter. The company also reported 120% year-on-year growth for the last three years.
On the treasury side, Knight FinTech said its platform manages over $125 billion in assets, supporting liquidity management, risk monitoring and investment operations for financial institutions.
The company said the fresh capital will be deployed to strengthen its AI-native product roadmap, including risk intelligence, fraud detection, automated credit underwriting, early warning systems, portfolio monitoring and debt recovery solutions. It also plans to expand operations across the Middle East and APAC markets.
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“Co-lending and treasury are already operating at meaningful scale, while embedded finance and digital lending are accelerating rapidly,” said Kushal Rastogi, Founder and CEO of Knight FinTech, adding that the company aims to build category leadership while maintaining execution quality and partner outcomes.
Knight FinTech’s clients include Bank of Baroda, Bank of India, UCO Bank, ICICI Securities, IIFL Finance, Kotak Prime, Bajaj Auto Finance, Muthoot Fincorp, NABARD and NSDL Payments Bank, among others.
As part of its international expansion, the company has onboarded Sanat Rao, former Global CEO of Infosys Finacle, as an investor and board advisor.