About Vitesse
Vitesse is a company based in London (United Kingdom) founded in 2014 by Paul Townsend and Phillip McGriskin. It operates as a FinTech, and Managed Services. Vitesse has raised $127.62 million across 3 funding rounds from investors including KKR, HDI Global and Octopus Ventures. The company has 136 employees as of March 31, 2024. Vitesse offers products and services including Treasury Payments, Faster Claims Payment (FCP), and Claimant Experience. Vitesse operates in a competitive market with competitors including EasySend, Sprout.ai, Earthport, ClaimLogiq and omni:us, among others.
- Headquarter London, United Kingdom
- Employees 136 as on 31 Mar, 2024
- Founders Paul Townsend, Phillip McGriskin
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Vitesse Psp Ltd
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Annual Revenue
$31.22 M (USD)122as on Mar 31, 2024
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Net Profit
$837.79 K (USD)113as on Mar 31, 2024
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EBITDA
$792.42 K (USD)111as on Mar 31, 2024
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Total Equity Funding
$127.62 M (USD)
in 3 rounds
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Latest Funding Round
$93 M (USD), Series C
May 21, 2024
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Investors
KKR
& 7 more
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Employee Count
136
as on Mar 31, 2024
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Products & Services of Vitesse
Vitesse offers a comprehensive portfolio of products and services, including Treasury Payments, Faster Claims Payment (FCP), and Claimant Experience. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Treasury solutions are provided for insurance claim funds.
Accelerated claims payments are facilitated for Lloyd's market.
Enhanced payment experiences are delivered to insurance claimants.
Funding Insights of Vitesse
Vitesse has successfully raised a total of $127.62M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $93 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series C — $93.0M
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First Round
First Round
(11 Aug 2020)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Series C - Vitesse | Valuation | KKR | |
| Feb, 2022 | Amount | Series B - Vitesse | Valuation | Prime Ventures | |
| Aug, 2020 | Amount | Series A - Vitesse | Valuation | Octopus Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Vitesse
Vitesse has secured backing from 8 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include KKR, HDI Global and Octopus Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Multiple sectors are invested in by this private equity firm.
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Founded Year | Domain | Location | |
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Venture capital investment and support for founders in technology and health sectors.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Vitesse
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Vitesse
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Vitesse Comparisons
Competitors of Vitesse
Vitesse operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as EasySend, Sprout.ai, Earthport, ClaimLogiq and omni:us, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Document management solutions for insurance, banking, and other industry
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| domain | founded_year | HQ Location |
AI-based software suite for personal and commercial insurers
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| domain | founded_year | HQ Location |
Cross-border payments are specialized in by Earthport for international transfers.
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| domain | founded_year | HQ Location |
Insurance claims management software is provided for review and validation.
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| domain | founded_year | HQ Location |
AI-based claims management solutions are offered for insurance.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Vitesse
Frequently Asked Questions about Vitesse
When was Vitesse founded?
Vitesse was founded in 2014 and raised its 1st funding round 6 years after it was founded.
Where is Vitesse located?
Vitesse is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Vitesse?
Phillip McGriskin is the current CEO of Vitesse. They have also founded this company.
Is Vitesse a funded company?
Vitesse is a funded company, having raised a total of $127.62M across 3 funding rounds to date. The company's 1st funding round was a Series A of $8.62M, raised on Aug 11, 2020.
How many employees does Vitesse have?
As of Mar 31, 2024, the latest employee count at Vitesse is 136.
What is the annual revenue of Vitesse?
Annual revenue of Vitesse is $31.22M as on Mar 31, 2024.
What does Vitesse do?
Treasury and payment services are offered by Vitesse to the insurance sector. Operations are focused on streamlining claims payouts, enhancing real-time visibility, and reducing capital requirements for insurers, MGAs, and TPAs. Solutions are designed to protect and control claim funds through secure banking partnerships. Coverage extends across 180 countries and currencies, supporting global carriers and parametric insurance. Innovations like Faster Claims Payment (FCP) for Lloyds market are also provided. Operational efficiency and claimant experience are prioritized across all offerings.
Who are the top competitors of Vitesse?
What products or services does Vitesse offer?
Vitesse offers Treasury Payments, Faster Claims Payment (FCP), and Claimant Experience.
Who are Vitesse's investors?
Vitesse has 8 investors. Key investors include KKR, HDI Global, Octopus Ventures, Hannover Digital Investments, and Prime Ventures.