Knight FinTech Becomes India’s First ‘Soonicorn’ of 2026 After $23.6 Million Series A Round
Knight FinTech has announced that it has emerged as India’s first “soonicorn” of 2026 after completing a multi-tranche Series A round that lifted its total funding to more than $30 million. The latest $23.6 million raise was led by Accel, with participation from IIFL and Rocket Capital, along with existing backers Prime Venture Partners, 3one4 Capital, Commerce VC and Trifecta Capital. The startup builds credit and lending infrastructure that connects banks, lenders, platforms and borrowers to improve risk assessment and capital flows at scale.
The company said the fresh capital will be used to strengthen its AI-native product roadmap, including enhanced risk intelligence, fraud detection, automated credit underwriting, early-warning systems, portfolio monitoring and debt recovery solutions. As part of its international expansion across the Middle East and Asia-Pacific, Knight FinTech has onboarded Sanat Rao, former global CEO of Infosys Finacle, as an investor and board advisor. Founder and CEO Kushal Rastogi said the firm is scaling rapidly across co-lending, treasury, embedded finance and digital lending, with a focus on execution quality and partner outcomes.
Knight FinTech claims a 70% market share in India’s digital co-lending infrastructure and leadership in treasury automation and universal digital lending platforms, serving institutions such as Bank of Baroda, Bank of India, NABARD and NSDL Payments Bank. Over the last three years, it has facilitated more than $7 billion in cumulative disbursements and manages over $5 billion in active AUM, adding nearly $1 billion in fresh disbursements every quarter. The company now aims to surpass $85–100 million in revenue and scale AUM beyond $50 billion over the next four years.
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