Vitesse secures £6.6 million as VC pours $750m into commercial payments
Venture capital investment into commercial payments is approaching the three-quarter billion mark as UK based cross-border payments company Vitesse announces it has secured £6.6 million. The Series A funding round was led by Octopus Ventures and also saw an involvement from its existing investors such as Hoxton Ventures.
Vitesse is a UK Financial Conduct Authority (FCA) regulated company and has operation in over 100 countries and 60 currencies. The company processed over £2.1bn across almost 2.3 million transactions to date.
The company plans to use this funds in expansion of its footprint in the US markets and also for global expansion. Last month, EMQ, another cross-border payments company received $20 million in Series B funding round. This week, Routable, the US based B2B payments company also raised $12 million in Series A round.