U.K. fintech Vitesse has closed a $93 million Series C round of funding led by investment giant KKR.
KKR said it’s making the investment through its Next Generation Technology Growth Fund III, a $3 billion fund it closed last year .
Founded out of London in 2013, Vitesse is the handiwork of Paul Townsend and Phil McGriskin , who had sold an e-commerce payments company called Envoy to WorldPay back in 2011 .
Vitesse targets insurance companies with an all-in-one treasury and payment management platform, replete with connections to a network of clearing systems designed to streamline international payments. The platform provides easy access to domestic banking services to remove friction from cross-border payments, as well as services like liquidity management, cash-flow forecasting, and real-time visibility into cash positions in myriad accounts and currencies.
Vitesse had raised a $8.4 million Series A round in 2020 , followed by a $26 million Series B round two years later . With another $93 million in the bank, the company said it’s doubling down on its U.S. expansion efforts, supported by the appointment of banking veteran Curt Hess , who will spearhead its growth Stateside.
Aside from lead backer KKR, Vitesse’s Series C round saw participation from existing investors Hoxton Ventures, Octopus Ventures, and Hannover Digital Investments.