Mumbai-based banking infrastructure startup Knight Fintech has raised $23.6 million in a funding spherical led by Accel, with participation from IIFL and Rocket Capital.

Current buyers Prime Enterprise Companions, 3One4 Capital, Commerce VC and Trifecta Capital additionally took half.

Based in 2019, Knight Fintech builds core infrastructure that connects banks, lenders, platforms and debtors, enabling the circulation of capital throughout the monetary ecosystem. Its product suite spans co-lending, digital lending, embedded finance and treasury administration. The startup’s co-lending stack permits banks and huge non-banking monetary corporations to accomplice with different establishments to originate and distribute loans.

Knight Fintech works with monetary establishments together with Financial institution of Baroda, Financial institution of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp and NABARD. It at present helps greater than 150 partnerships throughout 85 lenders. In keeping with the corporate, its platform has facilitated over $7 billion in mortgage disbursements and manages greater than $5 billion in energetic belongings.

On the treasury facet, Knight Fintech affords software program to handle liquidity, market danger, borrowings and investments. The platform manages belongings price over $125 billion, positioning it as a core infrastructure supplier for monetary establishments.

The contemporary capital might be used to strengthen product capabilities and help worldwide enlargement. The corporate plans to ascertain a presence throughout Asia Pacific and Gulf markets within the coming interval.

Wanting forward, Knight Fintech is concentrating on annual revenues of $85-100 million and plans to develop belongings below administration past $50 billion over the subsequent 4 years.

Monetary disclosures filed with the Ministry of Company Affairs and accessed by way of Tracxn present that the corporate closed FY25 with whole income of Rs 31.5 crore and a internet lack of Rs 16 crore.