Assessment
Vitesse handles the money side of insurance. It pays claims to policyholders and suppliers, collects and holds funds in local accounts in many currencies, and gives finance teams real-time balances and reporting. Use it when an insurer or claims firm pays out across borders and is tired of slow bank transfers and manual reconciliation.
Vitesse was founded in London, England, in 2014 by Phil McGriskin and Paul Townsend, and moved its focus to insurance in 2021. It raised a $93M Series C led by KKR in May 2024 to expand in the US, and says it has processed more than ~$27B since its start. Vitesse PSP Ltd reported revenue of ~$42M in the year to March 2025, two-thirds of it interest earned on balances, and a loss of ~$5M.
It fits an insurer, MGA or third-party administrator with claims payments in several currencies. It is a weaker fit for a business outside insurance, which Vitesse no longer targets.
Rating by criterion
Each of the eight criteria below is scored out of 100.
Sector criteria
Vitesse covers outbound claims payments, local collection accounts and multi-currency balances, with Lloyd's-linked claims payment set up with LIMOSS. Check whether premium collection is covered in your markets as well as payouts.
An API and web platform handle payments, approvals and reconciliation, with live cash reporting by entity and currency. Ask which claims systems already have a ready connection.
Vitesse PSP Ltd is an e-money institution authorised by the Financial Conduct Authority (reference 900646), Vitesse PSP BV is licensed by De Nederlandsche Bank, and Vitesse Trust Company is chartered in New York. Client money is safeguarded, which is not the same as deposit insurance.
Vitesse works with Lloyd's market bodies, claims platforms and banking partners across many countries. Check local payout coverage in your largest claims markets.
Vendor criteria
The product has grown from payments into treasury and cash management for insurers, and the KKR round funds US growth. Ask what is live in the US today versus planned.
Onboarding is sales-led, with due diligence on the insurer's entities and flows. Plan for a migration project if claims payments move from a bank.
Vitesse does not publish prices. Ask how much of the cost comes from FX margin and how interest on held balances is shared.
Contracts are negotiated. Ask about notice periods, interest terms on balances and how funds are returned on exit.
Against its peers
These are the other companies in payments and acquiring, with their ratings.
Fact file
| Regulators | FCA: Vitesse PSP Ltd 900646; De Nederlandsche Bank: Vitesse PSP BV; New York: Vitesse Trust Company |
|---|---|
| Revenue, year to March 2025 | ~$42M, mostly interest on balances |
| Processed since 2014 | More than ~$27B, according to Vitesse |
| Series C, May 2024 | $93M led by KKR |
| Pricing | Not published |
Competitive landscape
Payment and treasury providers an insurer or claims firm would compare with Vitesse.
Vitesse: 73
Key leadership
Phil McGriskin co-founded Vitesse in 2014 and is chief executive. He earlier founded Envoy Services, which Worldpay bought in 2011. Co-founder Paul Townsend helped start both companies.
How this review was created
This profile gives our own assessment of Vitesse to companies selecting a Payments & acquiring provider. The Fintech Index receives nothing for featuring a firm, for sponsorship, or for advertising, and Vitesse gave us no payment for the profile.
The rating equals the average of eight criteria, with every criterion running from 0 to 100. Four address buyer needs in this sector, and four address the company together with its commercial terms.
Ratings are our editorial judgment, made from public information: pricing and legal pages, product documentation, compliance disclosures, and filings. Fact-checking took place on October 23, 2026.