Knight Fintech, a Mumbai-based provider of lending and treasury solutions, has raised $23.6 million in a Series A funding round led by Accel. Existing investors Commerce VC, Trifecta Capital, Prime Venture Partners and 3one4 Capital returned to support Knight Fintech, alongside new participation from Rocket Capital and investment services company IIFL Finance.

Now backed by around $30 million in total funding, Knight Fintech has brought on Sanat Rao, former global CEO of Infosys Finacle, as an investor and board advisor to lead global expansion efforts. 

Knight Fintech was founded by Kushal Rastogi and Parthesh Shah in 2019, and develops co-lending, treasury management and embedded finance platforms for banks and non-bank lenders. 

The company reached more than $5 billion in assets under management in April, and went live with CanFin Homes, Bajaj Auto, IDBI Bank, and Vistaar Finance in the last quarter.