uk fintech Vitesse has closed a Series C round of 93 million dollars financing led by the investment giant KKR.
KKR said it is making the investment through its Next Generation Technology Growth Fund III, a $3 billion fund that closed last year.
Founded in London in 2013, Vitesse is the work of Paul Townsend and Phil McGriskinwhich 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 payments management platform, packed with connections to a network of clearing systems designed to streamline international payments. The platform provides easy access to domestic banking services to eliminate the friction of cross-border payments, as well as services such as liquidity management, cash flow forecasting, and real-time visibility into cash positions across countless accounts and currencies.
Vitesse had proposed a Series A round of $8.4 million in 2020followed by a $26 million Series B round two years later. With another $93 million in the bank, the company said it is redoubling its expansion efforts in the United States, supported by the appointment of a banking veteran. Curt Hesswho will lead its growth in the United States.
In addition to lead sponsor KKR, Vitesse’s Series C round saw participation from existing investors Hoxton Ventures, Octopus Ventures and Hannover Digital Investments.