Kastle, a financial technology company developing AI agents for banking and lending operations, has raised $24 million in Series A funding led by Insight Partners as it expands its platform for automating high-volume work across existing financial systems.
Fifth Wall joined the round as a new investor, while existing investors Y Combinator and Commerce Ventures also participated. A group of founders and financial services executives also invested, according to the company.
Kastle said the new funding will support expansion of its engineering, product and go-to-market teams, as well as the deployment of its AI platform at banks and other financial institutions across North America.
The San Francisco-based company initially focuses on consumer lending, where financial institutions often handle large volumes of operational work across legacy software, fragmented systems, and manual processes. Rather than requiring banks and lenders to replace their existing core infrastructure, Kastle’s platform allows specialized AI agents to work across those systems and execute high-volume workflows while keeping systems of record updated, the company said.
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Kastle describes these systems as an “AI workforce” and refers to its specialized agents as AI full-time employees, or AI FTEs. The agents are designed to handle repeatable operational work, while employees can focus on cases requiring judgment, expertise, customer relationships and other human involvement.
The company said its AI agents are already being used by financial services companies including Newrez, Valley Bank, Carrington Mortgage Services, New American Funding, Planet Home and Selene Finance. Kastle said customers are deploying the technology across customer service, loan origination, fulfillment and servicing operations. The company said its AI agents have processed more than $2 billion in transactions. Kastle said the platform is designed to operate within existing processes and controls, allowing financial institutions to introduce AI without fully replacing their core technology infrastructure.
“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,” Rebecca Liu-Doyle, managing director at Insight Partners, said in the funding announcement.
Rishi Choudhary, co-founder and CEO of Kastle, said the company aims to give financial institutions an alternative to either maintaining limitations imposed by legacy operations or undertaking lengthy technology migrations.
“We believe this will become the safest and fastest way for the world’s largest institutions to become AI-native,” Choudhary said.
Kastle’s approach comes as banks and lenders explore ways to move AI beyond customer-facing assistants and isolated experiments into operational processes. In consumer lending, those processes can involve large volumes of time-sensitive work that must be completed within established service, risk and regulatory requirements.
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The company said its AI agents are purpose-built for those workflows and can take actions across the tools already used by financial institutions.Kastle said it plans to use the Series A capital to deepen its platform, expand deployments and grow its teams. The company is also hiring across AI, deployments and go-to-market functions. The latest funding gives Kastle $24 million in disclosed Series A financing as it seeks to establish AI agents as part of the operating infrastructure used by banks and lenders.