Vitesse is a London-based FinTech that offers real-time global payments and treasury solutions and targets customers in the insurance, payroll and corporate payments space.
The company’s platform allows insurers to virtualize their loss funds and as a regulated e-money provider, Vitesse can hold the funds centrally on behalf of the customer. That lets Vitesse process 70% of the insurance payments in real time, that is days faster than the previous norm, and also drives improved capital efficiency.
Vitesse is contracted with over 65% of the London insurance market and is a provider of international payments and treasury management solutions for its extensive clientele, supporting in-country payments to over 170 countries and territories, supporting 109 currencies around the world.
Vitesse was founded by Phillip McGriskin and Paul Townsend, whose previous fintech was acquired by Worldpay. Vitesse is regulated by the FCA and DNB.
“Vitesse aims to be the payment partner of choice for the insurance industry. Our payments and treasury management platform provides more cost-effective claims payments and, crucially, improves capital efficiency for insurers. We look forward to working closely with HDI to further refine our proposition and business model and welcome Ulrich Wallin to our product advisory board to share the benefit of his extensive experience.”
Vitesse CEO, Phillip McGriskin