Vitesse secures £19m Series B funding led by Prime Ventures to expand insurance infrastructure platform
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The funding round was led by Prime Ventures with participation from Octopus Ventures and Hannover Digital Investments.
Vitesse provides integrated treasury and payment solutions tailored for the global insurance industry. Its platform offers real-time visibility, capital safeguarding, and automated claims processing.
Vitesse, a London-based fintech providing payment and treasury infrastructure for the insurance sector, has secured £19m in Series B funding. The investment was led by Prime Ventures, with participation from Octopus Ventures and Hannover Digital Investments, alongside several angel investors including Ron Kalifa and Shane Happach.
The capital will be directed towards international expansion across Europe and the US, alongside product development to support the ongoing digitisation of the insurance market. Vitesse already serves a significant portion of the Lloyds of London market and plans to scale its operations further as demand for real-time claims settlement increases.
From the founder
"We are thrilled to have our new investors on board. The Vitesse team have built an incredibly strong and highly regulated platform, supported by our own global payment network and treasury capability, and we have successfully shown the value of these assets to our fast-expanding customer base. We have strong ambitions to grow and to continue our success with a strong focus on the insurance market."
Phillip McGriskin
Co-founder and CEO at Vitesse
Investor perspective
"We believe the value-add of Vitesse is immense. With annual claims volumes and related funding in the trillions of dollars, it provides a platform for real-time insights and full control over those accounts. The insurance landscape is complex, but finance connects it all. As such, Vitesse is well positioned to claim an important place in this critical infrastructure required for the much-needed digitisation in insurance. Coupled with its experienced management team and ambitious vision, we are proud to be investing in the company. We look forward to supporting Phil and the team through their next stage of growth."
Thijs Emondts
Board member, Prime Ventures
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Thijs Emondts
Prime Ventures
Octopus Ventures
Ulrich Wallin
Hannover Digital Investments
Ron Kalifa
Shane Happach
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