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Knight Fintech raises $23.6 Mn in Series A round led by Accel

EntrackrEntrackr · 27d ago
Knight Fintech raises $23.6 Mn in Series A round led by Accel
Medial

Knight Fintech raises $23.6 Mn in Series A round led by Accel Mumbai-based banking infrastructure startup Knight Fintech has raised $23.6 million in a funding round led by Accel, with participation from IIFL and Rocket Capital. Existing investors Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital also took part in the round. Knight Fintech’s total funding now stands at $30 million. The proceeds will be used to strengthen product capabilities and support international expansion, targeting markets across Asia Pacific and the Gulf region. Founded in 2019, Knight Fintech builds core infrastructure that connects banks, lenders, platforms, and borrowers to enable capital flow across the financial ecosystem. The firm operates products spanning co-lending, digital lending, embedded finance, and treasury management. Its co-lending stack allows banks and large NBFCs to partner with other institutions to originate and distribute loans. It works with financial institutions such as Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp, and NABARD. Knight Fintech currently supports over 150 partnerships across 85 lenders. According to the company, its platform has facilitated more than $7 billion in loan disbursements and manages over $5 billion in active assets. Its treasury management software handles liquidity, risk, borrowings, and investments, with assets worth over $125 billion managed through the system. Over the next four years, Knight Fintech aims to scale annual revenues to $85–100 million and expand assets under management beyond $50 billion.

IIFL Fintech floats Rs 500 Cr Fund II

EntrackrEntrackr · 9d ago
IIFL Fintech floats Rs 500 Cr Fund II
Medial

IIFL Group backed IIFL Fintech Fund has announced the final close of its second fund after raising Rs 500 crore from domestic family offices and high net worth individuals. The Series II fund targets early to growth stage fintech startups, with a focus on companies using generative artificial intelligence to build financial services products. The fund plans to invest in 20 to 25 startups across lending, payments, compliance, wealthtech, insurtech, and embedded finance. Around 20 to 25 percent of the second fund will be allocated for follow on investments in top performing companies from its first fund. IIFL Fintech had announced the first close of its second fund at Rs 200 crore in January 2025 and has already backed five startups through this. These include companies such as education focused fintech GrayQuest, voice AI startup Fundamento, banking infrastructure startup Knight Fintech, and a secondary share purchase in document infrastructure firm Leegality, among others. According to IIFL Fintech, it actively partners with fintech founders to help them validate, deploy, and scale their solutions within a large financial services ecosystem. The fund closed its first fund in 2022 after raising Rs 200 crore. IIFL Fintech Fund was set up in 2021 with the aim of investing in early stage fintechs that the IIFL Group could collaborate with. Over the last four years, the IIFL Fintech Fund has invested across multiple fintech segments. Its portfolio includes Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, Castler, Vitra.ai, EasyRewardz, Multipl, Riskcovry, and TrustCheckr, which was sold to Truecaller.

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