Insurtech Vitesse Raises $93 Million Series C Funding for US Expansion

The payments and treasury management platform for insurers known as Vitesse has raised $93 million to drive its expansion in the United States.

Fintech in the United Kingdom Vitesse has successfully completed a Series C funding round with a total of $93 million, which was led by the financial giant KKR.

According to KKR, the investment would be made through its Next Generation Technology Growth Fund III, which was a fund with a total of $3 billion that was closed out the previous year.

Vitesse is a firm that was established in London in 2013. It was founded by Paul Townsend and Phil McGriskin, who had previously sold an e-commerce payments company known as Envoy to WorldPay in 2011.

Vitesse is a platform that provides insurance firms with an all-in-one treasury and payment management system. This platform is equipped with connections to a network of clearing systems that are designed to simplify international payments. The platform makes it simple to access local banking services, which eliminates the friction that is associated with international transfers. Additionally, it offers services such as liquidity management, cash-flow forecasting, and real-time visibility into cash positions in a wide variety of accounts and currencies inside the same platform.