Thought Machine, a London, UK-based fintech company that builds cloud-native technology to revolutionize core banking, raised $160 million in a Series D funding, after 6 months since the series c round, now valued at $2.7 billion.
The round was led by Temasek, participation from Intesa Sanpaolo and Morgan Stanley, as well as follow-on investments from existing investors including Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB.
The new capital will be used to carry the momentum, with APAC markets Vietnam, Thailand, Indonesia, and the Philippines on tap.
Company: Thought Machine Group Limited
Round: Series D
Funding Month: May 2022
Lead Investors: Temasek
Additional Investors: Intesa Sanpaolo and Morgan Stanley, as well as follow-on investments from existing investors including Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB
Company Website: https://www.thoughtmachine.net/
Software Category: Core Banking Software
About the Company: Founded in 2014 by former Google engineer Paul Taylor, Thought Machine provides modern, cloud-native core banking technology to some of the largest financial institutions around the world including investors and clients, Intesa Sanpaolo, Lloyds Banking Group, ING, SEB, and Standard Chartered. Thought Machine describes itself as a cloud-native core banking technology firm and is selling cloud-based banking infrastructure to old and new banks as they look to offer their customers services via the cloud, moving away from the mainframe, legacy banking tech (in the case of old school banks) or offering cloud-based services from the get-go in the case of challenger banks and fintech startups.