Funding for Knight Fintech Pvt Ltd, a Mumbai-based startup focused on facilitating loans for banks, has reached a total of $30 million following a recent investment round that secured $23.6 million. The latest funding was spearheaded by Accel, with participation from several investors, including IIFL, Rocket Capital, and Prime Venture Partners.
Founded in 2019, Knight Fintech specializes in co-lending, where banks collaborate with fintech companies to streamline loan issuance. Their platform offers a range of tools to assist banks in managing these partnerships, including administrative support and loan tracking through dashboards. Additionally, the software automates account reconciliation and supports supply chain finance, providing liquidity for companies awaiting payments.
Among its offerings, Knight Fintech features Aurix, which aids banks in developing customer-facing applications, including a WhatsApp-based loan application feature. Another product, Beacon, assists organizations in managing financial assets and assessing investment risks. CEO Kushal Rastogi noted that their platforms are already functioning at significant scale amid a rapidly evolving digital lending landscape.