La Veloce Linea di Navigazione Italiana a Vapore was founded in 1884 to run services between Italy and South America but can be indirectly traced back back to 1865 when Giovanni Lavarello started a line of small wooden steamers. The company was taken over in 1883 by M. Bruzzi & Co who formed La Veloce. From 1889 German banks commenced acquiring shares in the company and by 1899 had gained a controlling interest. The firm of Fratelli Lavarello (sons of the original founder) was taken over together with their fleet in 1891. In 1900 Italian banks and Navigazione Generale Italiana commenced buying out German shareholders and by 1901 the company was effectively controlled by NGI and the official name became La Veloce Navigazione Italiana a Vapore. La Veloce was absorbed into NGI in 1924 and was liquidated as a seperate company.