Vitesse, a company specializing in treasury and payment solutions for the insurance industry, has successfully raised £73 million in a Series C funding round led by KKR. The firm, founded in 2014 by Phillip McGriskin and Paul Townsend, aims to streamline the management and safeguarding of capital across the insurance value chain by providing real-time solutions that replace manual processes. Vitesse leverages a global payments network to enhance claim payment experiences for administrators and delegated authorities. The investment, which underscores the confidence in Vitesse’s mission, will support the company’s ongoing expansion in the US market. Curt Hess, formerly COO and CFO at 10x Banking and ex-CEO of Barclays US Consumer Bank, has been appointed as executive president in the US to lead this growth. Patrick Devine from KKR will join Vitesse’s board. This marks another significant investment by KKR in the tech sector, aligning with its strategy of supporting technology-focused growth companies.
InsurTech, Financial Services, Technology,United Kingdom, United States