Funding round
Vitesse Series B
Vitesse, which works in insurance financial infrastructure solutions in London, raised $26M in a Series B round announced on 10 Feb 2022, led by Prime Ventures. 3 firms took part. It is Vitesse's second venture round on record; the one before was a Series A in Aug 2020.
$26M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Vitesse did not disclose a valuation in this round. It came 18 months after Vitesse's Series A. It is 20% of the $128M Vitesse has raised in the venture rounds on record. Vitesse raised again 27 months later: a Series C round of $93M in May 2024.
Investors
Who put money in
Prime Ventures led the round with 2 other firms.
Lead investor
- backs 25 venture-backed companies new investor
Also in the round
- backs 164 venture-backed companies new investor
- backs 5 venture-backed companies new investor
Joined the board: Thijs Emondts (Prime Ventures).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
73 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $35M, and this round was 74% of the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 7 Feb 2022 | $85M | not disclosed | Tiger Global |
| Payment Processing & Point of Sale | 3 Feb 2022 | $60M | not disclosed | SoftBank Latin America Fund |
| Payment Processing & Point of Sale | 3 Feb 2022 | $55M | not disclosed | Tiger Global |
| Payment Processing & Point of Sale | 22 Feb 2022 | $31M | not disclosed | JAM Fund |
| Payment Processing & Point of Sale | 23 Mar 2022 | $100M | not disclosed | K1 Investment Management |
| Payment Processing & Point of Sale | 3 Mar 2022 | $100M | $1.00B | Headline and Hostplus |
| Payment Processing & Point of Sale | 23 Mar 2022 | $100M | not disclosed | K1 Investment Management |
| Tabby Payment Processing & Point of Sale | 7 Mar 2022 | $54M | not disclosed | Sequoia Capital India and STV |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Vitesse raise in its Series B round?
Vitesse raised $26M in its Series B round, announced in Feb 2022.
Who led Vitesse's Series B round?
Prime Ventures led it, with Octopus Ventures and Hannover Digital Investments.
What was Vitesse's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
73 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $35M, and this round was 74% of the median.
Did Vitesse raise again after this round?
Yes: a Series C round in May 2024 of $93M.