Funding round
Vitesse Series C
Vitesse, which works in insurance financial infrastructure solutions in London, raised $93M in a Series C round announced on 21 May 2024, led by KKR. 2 firms took part, 1 of them already investors. It is Vitesse's third venture round on record; the one before was a Series B in Feb 2022.
$93M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Vitesse did not disclose a valuation in this round. It came 27 months after Vitesse's Series B. It is 73% of the $128M Vitesse has raised in the venture rounds on record. No later venture round is on record for Vitesse.
Investors
Who put money in
KKR led the round with 1 other firm. Hannover Digital Investments had backed Vitesse before.
Lead investor
- KKR backs 104 venture-backed companies new investor
Also in the round
- Hannover Digital Investments existing investor
Joined the board: Patrick Devine (KKR).
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
14 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $66M, and this round was 1.4 times the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 3 Apr 2024 | $85M | not disclosed | EDC Investments |
| Payment Processing & Point of Sale | 14 Feb 2024 | $50M | not disclosed | General Atlantic |
| Payment Processing & Point of Sale | 19 Sep 2024 | $130M | $700M | General Catalyst and Bloomberg Beta |
| Payment Processing & Point of Sale | 10 Sep 2024 | $60M | $570M | not named |
| Tamara Payment Processing & Point of Sale | 18 Dec 2023 | $340M | $1.00B | SNB Capital and Sanabil |
| Payment Processing & Point of Sale | 1 Oct 2024 | $149M | not disclosed | BOND |
| Payment Processing & Point of Sale | 24 Oct 2024 | $75M | not disclosed | Acrew Capital and Leap Global Partners |
| Payment Processing & Point of Sale | 6 Nov 2024 | $15M | not disclosed | SMBC Asia Rising Fund |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Vitesse raise in its Series C round?
Vitesse raised $93M in its Series C round, announced in May 2024.
Who led Vitesse's Series C round?
KKR led it, with Hannover Digital Investments.
What was Vitesse's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
14 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $66M, and this round was 1.4 times the median.