Mumbai-based banking infrastructure provider Knight Fintech has successfully secured $23.6 million in a new funding round. The investment, led by prominent early-stage venture firm Accel, marks a significant milestone for the company founded in 2019. This capital infusion is set to accelerate the firm's mission of modernizing the core infrastructure that connects the financial ecosystem.
Strategic Investment to Fuel Growth
The funding round saw participation from new investors IIFL and Rocket Capital, alongside the lead investor, Accel. Existing backers, including Prime Venture Partners, 3One4 Capital, and Trifecta Capital, also reaffirmed their confidence in the company's vision. This latest round elevates Knight Fintech's total capital raised to a substantial $30 million, providing significant runway for its next phase of development.
Powering India's Financial Ecosystem
At its core, Knight Fintech develops critical infrastructure that facilitates the flow of capital between banks, lenders, platforms, and borrowers. The company's offerings include a sophisticated co-lending platform, enabling partnerships between large banks and other lending firms. It also provides advanced treasury management software for managing liquidity, market risk, and investments for financial institutions.
The company's impact is validated by its impressive client roster, which features leading financial institutions such as Bank of Baroda, Bank of India, and IIFL Finance. This widespread adoption underscores the platform's reliability and its crucial role in the digital transformation of financial services. The platform currently supports over 150 partnerships across 85 different lenders, showcasing its extensive network.
Ambitious Expansion and Future Outlook
With the new capital, Knight Fintech plans to significantly enhance its product offerings and pursue an aggressive international expansion strategy. The company has set its sights on establishing a strong presence across the Asia Pacific and Gulf regions. This move reflects a broader ambition to become a global leader in financial infrastructure technology.
The firm already operates at a significant scale, having facilitated over $7 billion in disbursements and currently managing more than $5 billion in active assets. Looking ahead, Knight Fintech aims to achieve annual revenues between $85 million and $100 million within the next four years. It also plans to expand its assets under management beyond the $50 billion mark during the same period.
According to company filings, Knight Fintech closed the 2025 fiscal year with revenues of Rs 31.5 crore against a net loss of Rs 16 crore, typical for a growth-stage company investing heavily in expansion. Co-founder Rastogi expressed confidence that as its co-lending, treasury, embedded finance, and digital lending platforms mature, the company will achieve category leadership across all its segments.
This latest funding round positions Knight Fintech to solidify its leadership in the banking infrastructure sector and execute its ambitious growth plans. The investment from Accel and other prominent backers is a strong endorsement of its technology and its potential to reshape financial services. The company is now well-capitalized to enhance its platform and expand its global reach, promising further innovation in the fintech space.