U.Okay. fintech Vitesse has closed a $93 million Collection C spherical of funding led by funding large KKR.
KKR stated it’s making the funding by means of its Subsequent Technology Know-how Progress 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 offered an e-commerce funds firm known as Envoy to WorldPay again in 2011.
Vitesse targets insurance coverage corporations with an all-in-one treasury and cost administration platform, replete with connections to a community of clearing techniques designed to streamline worldwide funds. The platform supplies quick access to home banking companies to take away friction from cross-border funds, in addition to companies 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 Collection A spherical in 2020, adopted by a $26 million Collection 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 progress Stateside.
Apart from lead backer KKR, Vitesse’s Collection C spherical noticed participation from current buyers Hoxton Ventures, Octopus Ventures, and Hannover Digital Investments.
