Vitesse in a $26 million Series B funding led by Prime Ventures, joined by Octopus Ventures and Hannover Digital Investments.

Vitesse, a London, UK-based financial services company providing real-time cross-border payments, announced raising series B closed at $26 million.

The money was raised from investors led by Prime Ventures, with participation from Octopus Ventures and Hannover Digital Investments and from existing angel investors Ron Kalifa, chairman of Network International, and Shane Happach, CEO of Mollie, a Dutch payments firm.

The proceeds will also be used to invest in new products and customer service as it attempts to reach its mission of becoming the payment partner of choice for the insurance industry.

Vitesse, founded in 2013 by Phillip McGriskin and Paul Townsend, built an online money-transfer platform designed to help users make secured money transactions. The company's platform helps to make inbound and outbound payments, due diligence and transaction monitoring, enabling payment management in a simple and effective way. Vitesse works with customers from the insurance, payroll and corporate payment space, is available in 172 countries and territories, and serves more than 72% of London’s insurance market. It has launched in the Netherlands and is expanding in France.

Prior to this round, the company raised a $1 million round from Hoxton in 2015 and series A closed at $8.6 million in 2020.