Vitesse, a treasury and payment solutions provider for the insurance sector with headquarters in London, UK, concluded a $93 million Series C fundraising round.
Investors
- Hannover Digital Investments
- KKR
- After the investment, which is subject to usual regulatory clearances, KKR’s Tech Growth team Managing Director Patrick Devine will become a member of the board of directors.
Use of funds
The cash will be put to use by the firm for US growth, product development, and improving connections across the insurance value chain.
About Vitesse
Vitesse is a payments and treasury platform for the insurance sector, founded in 2014 by Phillip McGriskin and Paul Townsend. It gives market players complete insight and control over their claims. The technology replaces laborious manual processing of claims payments and reconciliations, enabling real-time management and capital protection for stakeholders throughout the value chain. Vitesse offers the greatest customer experience in claims payments to claims administrators and delegated authorities via its integrated global payments network. The firm, which employs 177 people, has its headquarters in London, services clients across Europe, and is now growing in the US, which is a key area for business expansion.
