UK-based treasury and payment solutions provider for the insurance industry Vitesse has secured USD 93 million in a Series C funding round. The funding round was led by investment firm KKR, with contributions from existing investors such as Hannover Digital Investments.

Vitesse, founded in 2014 offers a payments and treasury platform for the insurance sector, providing comprehensive visibility and control over claims. The platform facilitates real-time management and capital protection, replacing manual claims payments and reconciliations with automated processes. Vitesse's global payments network enables claims payments, serving customers primarily in Europe, with ongoing expansion efforts in the US.

How will Vitesse use these new funds? The new investment will support Vitesse’s US expansion and continued product development, particularly in enhancing connectivity within the insurance value chain and expanding its payment network. KKR is investing in Vitesse through its Next Generation Technology Growth Fund III, which focuses on growth equity investments in technology. According to the official press release, since 2014, KKR has invested more than USD 21.6 billion in technology-focused companies and has a global team of over 35 investment professionals with expertise in tech growth equity.

The firm’s tech growth strategy includes investments in companies such as DarkTrace, KnowBe4, and OutSystems. In the company press release, officials from Vitesse described this latest funding success as a strong testament to the confidence investors have in the company's mission to improve payment and treasury management in the global insurance market. They also brought up working with KKR, as well as their plans to capitalise on their team’s strong industry expertise.

In turn, representatives from KKR reiterated their support for Vitesse and commended the company on its ability to disrupt and add significant value to the industry. .