Knight FinTech raises $23.6 million in Accel-led Series A funding

Credit-infrastructure firm will use the funds to expand AI-driven risk and lending platforms and accelerate growth across the Middle East and Asia-Pacific regions

Knight FinTech said it has become India’s first “soonicorn” of 2026 after completing a multi-tranche Series A round that lifted total funding to more than $30 million.

 

The $23.6 million round was led by Accel, with participation from IIFL and Rocket Capital, alongside existing investors Prime Venture Partners, 3one4 Capital, Commerce VC and Trifecta Capital.

 

A “soonicorn” is a startup that is rapidly growing and has the potential to become a unicorn, or reach a $1 billion valuation, in the near future.

 

Founded to address gaps in credit delivery, Knight FinTech builds infrastructure that connects banks, lenders, platforms and borrowers, aiming to improve risk assessment and capital flows at scale.

 

 

The new capital will be deployed to further strengthen Knight FinTech’s AI-native product roadmap. This includes better risk intelligence, fraud detection, automated credit underwriting, early-warning systems, portfolio monitoring and debt recovery systems.

 

As part of its international expansion plans across the Middle East and Asia-Pacific, Knight FinTech has onboarded Sanat Rao as an investor and board advisor. He is the former global chief executive officer of Infosys Finacle, the world’s leading digital banking platform.

 

“Knight FinTech is a multi-engine platform. Co-lending and treasury are already operating at meaningful scale, while embedded finance and digital lending are accelerating rapidly,” said Kushal Rastogi, founder and chief executive officer of Knight FinTech. “As all four engines come together, our ambition is to build category leadership across every segment we operate in, while staying deeply focused on execution quality and partner outcomes.”

 

Knight FinTech said it powers one of India’s largest digital lending ecosystems, with a 70 per cent market share in digital co-lending infrastructure and category leadership in treasury automation and universal digital lending platforms. Some of its clients include Bank of Baroda, Bank of India, NABARD and NSDL Payments Bank.

 

In the last three years, Knight FinTech has facilitated more than $7 billion in cumulative disbursements and currently manages over $5 billion in active assets under management (AUM). It continues to add nearly $1 billion in disbursements every quarter, sustaining 120 per cent year-on-year growth for three consecutive years. On the treasury side, its platform manages over $125 billion in assets, reinforcing its role as a core financial infrastructure provider.

 

Knight FinTech aims to surpass $85–100 million in revenue and expand AUM beyond $50 billion over the next four years.