U.Okay. fintech Vitesse has closed a $93 million Sequence C spherical of funding led by funding large KKR.
KKR stated it’s making the funding via its Subsequent Technology Expertise Development Fund III, a $3 billion fund it closed final yr.
Based out of London in 2013, Vitesse is the handiwork of Paul Townsend and Phil McGriskin, who had bought an e-commerce funds firm known as Envoy to WorldPay again in 2011.
Vitesse targets insurance coverage firms with an all-in-one treasury and cost administration platform, replete with connections to a community of clearing methods designed to streamline worldwide funds. The platform offers quick access to home banking providers to take away friction from cross-border funds, in addition to providers like liquidity administration, cash-flow forecasting, and real-time visibility into money positions in myriad accounts and currencies.
Vitesse had raised a $8.4 million Sequence A spherical in 2020, adopted by a $26 million Sequence B spherical two years later. With one other $93 million within the financial institution, the corporate stated it’s doubling down on its U.S. enlargement efforts, supported by the appointment of banking veteran Curt Hess, who will spearhead its development Stateside.
Other than lead backer KKR, Vitesse’s Sequence C spherical noticed participation from present traders Hoxton Ventures, Octopus Ventures, and Hannover Digital Investments.
