UK fintech Vitesse has closed a $93 million Series C round of funding led by investment giant KKR.

KKR said it's making the investment through its Next Generation Technology Growth Fund III, a $3 billion fund it closed last year.

Founded out of London in 2013, Vitesse is the creation of Paul Townsend and Phil McGriskin, who had previously sold an e-commerce payments company called Envoy to WorldPay in 2011.

Vitesse targets insurance companies with a comprehensive treasury and payment management platform, including connections to a network of clearing systems for streamlined international payments. The platform offers easy access to domestic banking services to simplify cross-border payments, as well as features like liquidity management, cash-flow forecasting, and real-time visibility into cash positions in multiple accounts and currencies.

Vitesse had previously raised $8.4 million in a Series A round in 2020, followed by a $26 million Series B round two years later. With an additional $93 million in funding, the company is focusing on expanding its presence in the US, with the appointment of banking veteran Curt Hess to lead its growth in the states.

In addition to KKR, Vitesse's Series C round saw participation from existing investors Hoxton Ventures, Octopus Ventures, and Hannover Digital Investments.