Indian-American founders secure $24 million for AI platform Kastle. Kastle, an AI platform founded by Indian Americans, has secured $24 million in Series A funding to enhance financial services through automation and efficiency. Kastle, an applied AI company specializing in financial services, has successfully raised $24 million in a Series A funding round. Founded by Indian American entrepreneurs Rishi Choudhary and Nitish Poddar, the San Francisco-based company aims to transform the lending landscape. The company has developed KastleOS, an AI agent operating platform tailored for consumer lending. This innovative platform is designed to automate tasks throughout the entire loan lifecycle, enabling lenders to enhance their operational capacity and expand their businesses. The funding round was led by Insight Partners, with participation from existing investors Y Combinator and Commerce Ventures. Fifth Wall also joined as a new investor, further solidifying Kastle's financial backing. As banks and other lending institutions increasingly turn to AI to streamline repetitive tasks and boost productivity, they face significant challenges. Replacing core lending systems can take years and introduce considerable migration and operational risks. However, Kastle is pioneering a different approach by developing AI agents that operate on top of the existing infrastructure used by financial institutions. These agents are capable of managing high-volume operations, allowing human employees to focus on more complex cases. "For years, enterprises have effectively been presented with a false choice: accept the limitations of legacy operations or endure a long and risky replacement of the systems at the heart of their business," said Rishi Choudhary, co-founder and CEO of Kastle. "Kastle creates a third path. We give financial institutions an AI workforce that can operate across the systems they already have, so they can capture the benefits of AI now - not five years from now. We believe this will become the safest and fastest way for the world's largest institutions to become AI-native." The platform will initially concentrate on consumer lending, an area characterized by a high volume of repetitive tasks associated with loan applications and related processes. Kastle reports that its agents have already processed over $1.8 billion in transactions. In addition to improving productivity, banks require AI systems that can operate reliably while adhering to regulatory and compliance standards and integrating seamlessly with their existing systems. Rebecca Liu-Doyle, managing director at Insight Partners, expressed enthusiasm for the partnership, stating, "Kastle deploys AI agents that can navigate complexity, pass the bar on regulatory rigor, and get high-stakes work done without waiting for a multiyear transformation. We're thrilled to partner with the Kastle team as they continue to reshape this category." Kastle plans to utilize the new capital to expand its footprint among North American financial institutions, enhance its engineering, product, and go-to-market teams, and accelerate the deployment of its solutions. According to American Bazaar, this funding marks a significant step forward for Kastle as it seeks to redefine the role of AI in the financial services sector.

Fintech funding roundup: Paymob, Kastle, Sprive & Latvia's Investment platforms. Sep 21, 2026 at 5:47 pm Fintech funding kept moving this week - here's a look at four of the latest raises in payments infrastructure, agentic AI for lenders, consumer mortgage technology, and general Baltic investment sector. Paymob raises $35 million pre-Series C. Egypt-founded payments infrastructure provider Paymob has raised $35 million in a pre-Series C round co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development (EBRD). British International Investment, Global Ventures, and DPI Ventures also participated. The round takes Paymob's total disclosed funding to more than $125 million. Founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy, Paymob operates an omnichannel payments platform giving businesses access to more than 60 payment methods through a single technology layer. The company serves over 390,000 merchants across Egypt, the UAE, Saudi Arabia, and Oman, having onboarded roughly 20,000 merchants across its three Gulf markets since securing a Retail Payment Services Licence from the Central Bank of the UAE in January 2025. Paymob said consolidated revenues grew threefold across its four markets over the past 18 months, while GCC revenues grew sevenfold. The company plans to use the new capital to expand its digital payments acceptance business across the MENA region and develop products for SME merchants and agentic commerce. "Paymob morphed into a regional platform over the past 18 months, propelled by the exponential growth of our GCC business. This Pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap to become the go-to payments platform for agentic commerce," said Islam Shawky, co-founder and CEO of Paymob. Kastle raises $24 million to build an AI workforce for lenders. San Francisco-based Kastle, which builds AI agents for financial services, has raised $24 million in a Series A round led by Insight Partners, with continued backing from Y Combinator and Commerce Ventures. Fifth Wall and a group of founders and financial services executives joined as new investors. Kastle's agents operate across a lender's existing core systems to handle high-volume workflows in consumer lending, rather than replacing legacy infrastructure. The company says its agents have processed more than $1.8 billion in transactions across some of the largest banks and enterprises in the sector, working alongside human staff who focus on cases requiring judgment and compliance oversight. "We give financial institutions an AI workforce that can operate across the systems they already have, so they can capture the benefits of AI now - not five years from now," said Rishi Choudhary, co-founder and CEO of Kastle. Insight Partners managing director Rebecca Liu-Doyle noted: "Financial institutions do not need another layer of software that creates more work for their teams. They need AI that can reliably complete the work while ensuring compliance." Latvian fintech platforms draw 800,000 investors, €13bn in investments. Latvia is also attracting attention for its regulated investment platforms. According to Latvia's Investment and Development Agency (LIAA), eight platforms regulated in the country have collectively facilitated more than €13 billion in investments and serve over 800,000 investors outside Latvia. German investors account for around 30% of demand. The figures were highlighted during a Latvian trade mission to Berlin, where fintech companies met with German institutional investors, family offices and financial-sector representatives. The delegation was part of a broader effort to expand Latvia's financial and technology ties with Germany. Sprive raises $10 million for AI-driven mortgage overpayment app. UK fintech Sprive has closed a $10 million ($7.7 million) Series A round backed by existing investors Ascension, Channel 4 Ventures, and the Velocity EIS Technology Fund, alongside new investors Active Partners, Wealth Club, and Rank Ventures. The round brings Sprive's total funding to more than $15 million. Founded in 2019 by former Goldman Sachs bankers Jinesh Vohra and Saad Hashim, Sprive lets users direct cashback earned through everyday shopping toward mortgage overpayments, alongside an AI-enabled auto-saving feature and a tool to scan the market for cheaper remortgage deals. The app has 567,000 registered users and supports around £42 billion of mortgages. The company has become cash flow positive, with an annualised revenue run rate of more than £18 million. Pay space. 2369 Posts Its editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.