# Vitesse PSP

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/vitesse-psp

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.vitessepsp.com
- Total disclosed funding: $126M
- Latest round: Series C (May 21, 2024)
- Investors on record: 5

## About

Vitesse PSP Limited, based in the UK, operates a digital platform designed for the insurance ecosystem, enhancing financial operations related to claims payments and fund management through innovative technology solutions.Founded in 2014 by Paul Townsend and Phillip McGriskin, Vitesse PSP Limited is headquartered in London, UK. The company specializes in providing a digital platform for the insurance industry. Vitesse has completed a total of 4 deals, with its most recent funding round—Series C—occurring on May 21, 2024, during which it raised GBP 73 million led by KKR, with participation from Hannover Digital Investments GmbH, Hoxton Ventures, and Octopus Investments. This latest investment brings the total amount raised by the company to GBP 73 million. André Buijs currently serves as the CEO.Vitesse offers a unified, digital-first platform tailored for the insurance sector, focusing on streamlining financial operations related to claims payments and fund management. The core product, Fast Claims Payment (FCP), developed in partnership with Lloyd’s of London and LIMOSS, accelerates claims payments while minimizing the volume of loss funds. The platform provides real-time visibility and automation of fund flows for various insurance participants, enhancing operational efficiency and compliance. Vitesse caters to a diverse customer base across over 180 countries and multiple currencies, enabling efficient fund management and addressing common challenges faced by insurers.In the most recent year, 2024, Vitesse reported a revenue of GBP 31,218,248.80 with an EBITDA of GBP -11,091.10, indicating the company's financial performance during that period.In May 2024, Vitesse PSP Limited secured GBP 73 million in Series C funding, which will be utilized to support the company's growth and expansion in the US market and the development of additional products. Vitesse aims to launch new offerings tailored to the insurance sector while focusing on enhancing its market presence in North America.

## Funding rounds

- Series C, May 21, 2024, $93M — KKR, Hoxton Ventures, Octopus Investments, Hannover Digital Investments GmbH
- Series B, Jan 24, 2022, $25M — Prime Ventures, Octopus Investments, Hannover Digital Investments GmbH
- Series A, Jun 29, 2020, $8.1M — Hoxton Ventures, Octopus Investments

## Investors

- Hoxton Ventures (https://capitalatlas.ai/funds/hoxton-ventures) — Series A, Series C
- Octopus Investments (https://capitalatlas.ai/funds/octopus-investments) — Series A, Series B, Series C
- Prime Ventures — Series B
- Hannover Digital Investments GmbH — Series B, Series C
- KKR (https://capitalatlas.ai/funds/kkr) — Series C