British monetary know-how firm Vitesse has accomplished a $93 million Collection C spherical of financing led by funding big KKR.
KKR mentioned it’s investing by its Subsequent Era Expertise Progress Fund III, which closed a $3 billion fund final 12 months.
Based in London in 2013, Vitesse is the brainchild of Paul Townsend and Phil McGriskin, who bought an e-commerce funds firm referred to as Envoy to WorldPay as early as 2011.
Vitesse goals to supply insurance coverage firms with an built-in monetary and funds administration platform replete with connections to a community of clearing techniques designed to simplify worldwide funds. The platform gives easy accessibility to home banking providers to take away the friction of cross-border funds, in addition to providers reminiscent of liquidity administration, money circulate forecasting and prompt visibility into money positions throughout a wide range of accounts and currencies.
Vitesse raised an $8.4 million Collection A in 2020 and a $26 million Collection B two years later. With one other $93 million within the financial institution, the corporate mentioned it would double down on its U.S. growth efforts, backed by the appointment of banking veteran Curt Hess, who will lead the The corporate’s progress in america.
Along with key backer KKR, Vitesse’s Collection C spherical additionally consists of participation from present traders Hoxton Ventures, Octopus Ventures and Hannover Digital Investments.
